AAVE Price Eyes $360 Following Major Whale Accumulation and Mantle Layer 2 Launch
- AAVE rebounds, but the broader trend remains weak and bearish for now.
- Whale 0xE9D0 increases holdings, signaling confidence in AAVE’s market stability and potential.
- Aave expands to the Mantle network, enabling faster transactions and lower decentralized finance costs.
AAVE’s weekly chart shows a strong bounce after a prolonged downtrend. Price recovered from the lower Bollinger Band around $153, signaling oversold conditions and renewed buyer interest. However, AAVE still trades below the 9-week EMA near $208, meaning the broader trend remains bearish. This rebound appears more like a relief rally unless the price closes decisively above the EMA.
The current pattern indicates that there is a transitional period but not necessarily a confirmation of reversal. The bearish candle followed by the capitulation wick indicates exhaustion in selling pressure, although further resistance lies at $208, and stronger resistance is closer to the Bollinger band in the $258 region. The supports are pegged at $165 and $153 levels. Market sentiment has moved from panic to stability. However, the trend pattern of lower highs has not been reversed.
Source: TradingView
AAVE may target $258, $330, and $360 if breaking above $210. However, a failure at the level of the EMA may cause a pullback towards $165 or even $153. The most probable medium-term outlook would be an escalation towards $208 in the rally. Confirmation in the trend would be seen only beyond $210. The bullish target in the longer term would be $258, $330, and $360 if the trend strengthens.
Also Read: Aave Surge Predicted: 16% Rise Rally Ahead
Whale Activity Signals Confidence in AAVE
The whale identified as 0xE9D0 recently acquired another 17,779 units of AAVE worth $3.31 million, just seven hours ago. This purchase indicates that institutional investors are still interested in AAVE and are confident in the future possibilities of this asset even in times of market volatility in the crypto industry.
Source: @lookonchain
After this purchase, the whale currently possesses a total of 310,617 $AAVE tokens worth approximately $59.3 million. This substantial holding portfolio indicates the whale’s dominant power in the market and indicates the continuous support of major stakeholders in the AAVE market. This indicates that there may be positive market trends for the token in the near future.
Aave Expands Through Mantle Partnership
Together with @Bybit_Official, Aave launches on @Mantle_Official. The integration of Aave and @Mantle_Official aims to extend Aave’s offerings through @Mantle_Official’s sophisticated blockchain network, providing users with faster transactions, reduced transaction fees, and enhanced DeFi functionality through the Layer 2 platform.
Mantle is a cost-effective system that is compatible with EVM and serves as a high-performance distribution layer. The platform is meant for institutional-grade applications and real-world assets. This provides fast transaction execution, lower transaction fees, and excellent scalability. The platform will be most suitable for the growth of Aave in optimized decentralized finance solutions.
