Aave crypto gains 38.25% in 24 hours as DeFi inspires market confidence
- High trading volume and intense momentum spurred Aave crypto higher.
- The token is primed for a move beyond the psychological $200 level soon.
Aave [AAVE] has rallied 44.9% since Tuesday the 5th of October’s open, after testing the 50% retracement level at $125 a day earlier.
In an earlier AMBCrypto report, it was highlighted that the higher timeframe price action meant that AAVE’s bias was strongly bullish.
However, the quickness of this bullish reaction wasn’t anticipated.
It appeared that the DeFi sector as a whole was buoyed by the pro-crypto U.S. president for the next four years, as DeFi tokens saw 30% or higher gains in recent days.
Aave breaks structure on high volume
Source: AAVE/USDT on TradingView
The current…
