“The DeFi lender’s native token broke above the key resistance level, eyeing $190 as the next target level.”, — write: www.coindesk.com
The move marked one of the strongest daily gains among major DeFi assets, outpacing the CoinDesk 5 Index’s 8% gain during the same period.
The rally was fueled by a sharp breakout above the $175 level during the US trading session, where volume spiked 295% above average in a single hour, CoinDesk Research’s technical analysis tool noted. Overall, AAVE posted an intraday range of $24.90, rising from $164.28 due to strong trading activity, representing a 35.66% increase compared to its seven-day average.
Technical indicators confirmed the momentum. AAVE logged three higher lows before pushing above $183.80 support and reaching a session high of $188.26, with volume spikes reinforcing bullish control.
Boosting sentiment was Aave expanding to Mantle (MNT), a layer-2 Ethereum scaling network tightly connected to crypto exchange Bybit’s 70 million user base. The partnership brings DeFi lending to a broader audience, leveraging low-cost infrastructure while connecting centralized exchange liquidity with decentralized lending markets.
“By bringing Aave’s lending markets to Mantle’s high-performance network with direct access to Bybit’s exchange, this integration makes transparent, onchain finance available at a global scale for institutions worldwide,” said Stani Kulechov, founder of Aave Labs.
Key technical levels to watch
- Support/Resistance: Immediate support sitting at $183.80; next resistance at the $190.00 psychological level.
- Volume Analysis: Breakout confirmed by 35.66% increase in trading volume, signals strong participation.
- Chart Patterns: Ascending trend with clean breakout above $175 suggests continued strength.
- Targets & Risk/Reward: Next upside target sits at $190.00 with a potential extension to $195.00; downside risk remains limited while holding above $183.80.
Disclaimer: Parts of this article were generated with the assistance of AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
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A 6% rally in bitcoin helped push IBIT ahead of major funds like VOO, but crypto miners including IREN and CIFR posted steep losses.
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