AAVE Price Hits Resistance at 200-Week EMA

AAVE's price recovery has reached its biggest weekly test as it attempts to overcome the 200-week EMA band.

The token has successfully flipped both the 20-week and 50-week EMAs, but now faces significant resistance from this higher level of support.

If AAVE can break through this barrier, potential targets of $240 and $340 may be within reach over the coming months.

However, the supply data is less convincing, with a burn being considered, although no proposal or timeline has been published.

Exchange balances have increased by around 12% between September 16 and September 28, adding approximately 146,000 coins to exchange supplies, reaching a 60-day high.