{"id":36417,"date":"2024-08-21T21:21:45","date_gmt":"2024-08-21T21:21:45","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/aave-spikes-to-5-month-high-as-bitcoin-tests-area-near-62k\/"},"modified":"2024-08-21T21:21:45","modified_gmt":"2024-08-21T21:21:45","slug":"aave-spikes-to-5-month-high-as-bitcoin-tests-area-near-62k","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/aave-spikes-to-5-month-high-as-bitcoin-tests-area-near-62k\/","title":{"rendered":"Aave spikes to 5-month high as Bitcoin tests area near $62k"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/AAVE-Logo-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/AAVE-Logo-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/AAVE-Logo-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/AAVE-Logo-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li><span style=\"font-weight: 400\">Aave reached a five month high above $143 with a 14% spike.<\/span><\/li>\n<li><span style=\"font-weight: 400\">Bitcoin broke to above $61,800, with price gaining 4% amid fresh crypto resilience.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\"><a href=\"https:\/\/coinjournal.net\/news\/tag\/aave\/\">Aave<\/a> continued to outperform peers on August 21 with a sharp ascend to its highest level in five months. Meanwhile, <a href=\"https:\/\/coinjournal.net\/bitcoin\/\">Bitcoin price<\/a> broke above $61,800 with a 4% surge in 24 hours.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">AAVE spikes 14% to hit 5-month high<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Decentralised finance (DeFi) protocol Aave (AAVE) was among the top gainers on Wednesday after surging more than 14% to hit highs of $143. Aave\u2019s native utility and governance token reached the level amid huge whale activity in the past few days.<\/span><\/p>\n<p>There was also positive news for Aave after the DeFi project\u2019s Aave V3 deployed on ZKsync Era Mainnet.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Aave V3 is debuting on Era Mainnet, powered by <a href=\"https:\/\/twitter.com\/zksync?ref_src=twsrc%5Etfw\">@zksync<\/a>, unlocking unprecedented scalability, privacy, and security while expanding the DeFi user base and new institutional use cases. <a href=\"https:\/\/t.co\/blNlUjsalX\">pic.twitter.com\/blNlUjsalX<\/a><\/p>\n<p>\u2014 Aave Labs (@aave) <a href=\"https:\/\/twitter.com\/aave\/status\/1826297284482519107?ref_src=twsrc%5Etfw\">August 21, 2024<\/a><\/p>\n<\/blockquote>\n<h3><span style=\"font-weight: 400\">AAVE price forecast<\/span><\/h3>\n<p><span style=\"font-weight: 400\">Rising to above $143, Aave\u2019s price moved to its highest level since March 2024. This is the period when Bitcoin rode the halving mania and spot BTC exchange-traded funds to reach its all-time high.<\/span><\/p>\n<p><span style=\"font-weight: 400\">AAVE\u2019s push to current levels means the altcoin could eye fresh gains to the $177-$200 price area. However, the spike in AAVE price has also seen a sell signal flash on the daily chart.<\/span><\/p>\n<p>Crypto analyst Ali Martinez <a href=\"https:\/\/x.com\/ali_charts\/status\/1826273623247872415\" target=\"_blank\" rel=\"noopener\">shared<\/a> this price outlook for AAVE earlier in the day.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The last four times the TD Sequential flashed a sell signal on the <a href=\"https:\/\/twitter.com\/hashtag\/AAVE?src=hash&amp;ref_src=twsrc%5Etfw\">#AAVE<\/a> daily chart, it was followed by an average correction of 27%. The same sell signal is now appearing, suggesting a potential drop for <a href=\"https:\/\/twitter.com\/search?q=%24AAVE&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$AAVE<\/a>. <a href=\"https:\/\/t.co\/12yZwLT5tp\">pic.twitter.com\/12yZwLT5tp<\/a><\/p>\n<p>\u2014 Ali (@ali_charts) <a href=\"https:\/\/twitter.com\/ali_charts\/status\/1826273623247872415?ref_src=twsrc%5Etfw\">August 21, 2024<\/a><\/p>\n<\/blockquote>\n<h2><span style=\"font-weight: 400\">Bitcoin bulls target breakout above $60k<\/span><\/h2>\n<p><span style=\"font-weight: 400\">While <a href=\"https:\/\/coinjournal.net\/noticias\/tag\/bitcoin\/\">Bitcoin<\/a> has struggled for momentum since the brutal sell-off in early August, bulls have remained largely undeterred. Buyers have shown great resolve in their quest to rally above the $60k. <\/span><\/p>\n<p><span style=\"font-weight: 400\">In the past 24 hours, the benchmark crypto has climbed to above this crucial level and currently looks set to extend the slight advantage.<\/span><\/p>\n<p><span style=\"font-weight: 400\">BTC has reached an intraday high above $61,838 on top crypto exchange Bitstamp.<\/span><\/p>\n<h3><span style=\"font-weight: 400\">BTC chart<\/span><\/h3>\n<p><span style=\"font-weight: 400\">The gains have the BTC\/USD pair touch the 50-day simple moving average, accentuating the formation of an ascending triangle pattern. In technical analysts, the ascending triangle is seen as a bullish chart pattern where the resistance level follows a horizontal line. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Meanwhile, swing lows follow a rising trendline that forms a narrowing triangle as price looks to resolve on the upside.<\/span><\/p>\n<figure id=\"attachment_221034\" aria-describedby=\"caption-attachment-221034\" class=\"wp-caption alignnone\"><img loading=\"lazy\" fetchpriority=\"high\" decoding=\"async\" class=\"wp-image-221034 size-full\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2024\/08\/bitcoin-price-chart-2.png\" alt=\"\" width=\"1057\" height=\"545\"\/><figcaption id=\"caption-attachment-221034\" class=\"wp-caption-text\"><a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener\">BTC\/USD daily chart. Source: TradingView<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">Bitcoin\u2019s daily chart suggests this is the case for BTC since the dip to lows of $49,577 on August 5. Notably, the 50-day SMA currently acts as a robust hurdle. If bulls decisively break higher, price could target the key supply wall around $68,255.<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, should weakness resurface, the primary support area could be around $58,266 and then $55,800.<\/span><\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/aave-spikes-to-5-month-high-as-bitcoin-tests-area-near-62k\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Aave reached a five month high above $143 with a 14% spike. Bitcoin broke to above $61,800, with price gaining 4% amid fresh crypto resilience. Aave continued to outperform peers on August 21 with a sharp ascend to its highest level [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":36418,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/36417"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=36417"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/36417\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/36418"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=36417"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=36417"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=36417"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}