AAVE Surges 13% in Violent Move, Targets $157.82 as Buyers Fight to Hold Gains

AAVE has seen a violent 13.21% surge in price over the past 24 hours, reaching an intraday high of $145.09 before settling at $139.79.

The token is now trading above every meaningful moving average, including the 50-day and 20-day SMAs, which are currently at $95.77 and $98.27 respectively.

This move is attributed to AAVE's dual-leverage play during risk-on regimes, where on-chain borrowing activity accelerates when Bitcoin strengthens, benefiting both the protocol and the token.

The technical indicators are mixed, with the RSI approaching overbought territory at 84% and the MACD histogram neutralizing to flat, indicating a loss of buying momentum.