Aave V4 Deposits Fuel Bullish Setup as Price Targets $160

Aave's v4 deposits have surpassed $900 million, with active loans reaching $280 million. This significant growth has led to an increase in utilization, which could potentially support Aave's price if the stronger activity continues.

The jump in deposits matters because it's accompanied by a rise in active addresses across various time periods. On-chain activity is picking up, adding another sign that utility around Aave is improving.

However, fundamentals don't automatically send tokens higher. The chart has to cooperate with the stronger network growth and price structure.

Aave's daily chart has formed a golden cross between the 50-day and 200-day EMA bands, providing another bullish signal for the protocol.

The market data puts Aave at $16.02, citing $120 as the key support level. If Aave's price clears this level, $160 becomes the nearest resistance, with a potential target of $240 if that resistance is cleared.