Aave Bounced Above $230 and Double Bottom Formation

The Rise of Aave and the Double Bottom Formation

Aave reached $232 with a 2.5% increase, reversing the overnight sell-off and surpassing the resistance at $224.50. This situation has caught the attention of investors.

The observed double bottom formation has found solid support around $220. Additionally, the 87% increase in trading volumes has been a significant factor behind this rise.

Furthermore, Aave will begin listing Maple’s institutional-grade assets as collateral as part of a new strategic partnership. This development is expected to strengthen Aave’s market position.