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The Aave price soared 9% in the last 24 hours to trade at $106.02 as of 00:47 a.m. EST on trading volume that skyrocketed 75% to $264 million.
AAVE posted the best 24-hour performance compared to other top tokens, which indicates renewed interest in the DeFi platform.
Strong protocol performance and new initiatives like Skyward and fee switch proposals are the main drivers of Aave’s recent growth.
Aave Price Could Continue Soaring Over Resistance
The Aave price took a slight tumble from the $106 resistance to the $90 support, according to data from GeckoTerminal.
The price then surged back to the $106 resistance, forming a rounding bottom pattern as the bulls aimed to push the price above the resistance.
AAVE trades above both the 50 and 200 Simple Moving Averages (SMAs) on the 4-hour chart, indicating a sustained uptrend.
Moreover, the Relative Strength Index (RSI) is soaring towards the overbought region, currently trading at 66, which shows intense buying pressure.
The Moving Average Convergence Divergence also supports the bullish prospects as the MACD climbs above the neutral line. The blue MACD line also crossed above the orange signal line, forming a bullish crossover.
A bullish crossover and a soaring RSI indicate that the price of Aave is bullish. If the momentum continues, the bulls could look to target $122.
However, the RSI indicates that the asset is overvalued, which is generally seen as a buy signal. If the bears increase the pressure, the Aave price could plunge back to the support around $99, which coincides with the 200 SMA.
As the Aave price surges, PEPE lovers are buying the new upgrade Pepe Unchained ($PEPU), which has already raised over $8.8 million in early funding.
An analyst from 99Bitcoins, a prominent crypto channel on YouTube, says $PEPU is one of the best cryptos to buy now with 100x potential.
PEPU Presale Nears $9 Million Mark
Pepe’s latest and most enhanced version, complete with its own layer-2 chain on Ethereum, marked its one-month milestone by raising over $8.8 million.
Since its launch, Pepe has maintained positive growth, as it continues to be in the top three of the titan meme coins in market capitalization.
However, Pepe is not without shortcomings. The token was originally built on the Ethereum blockchain and has long been confined by the layer-1 network, which is highly characterized by delays and rising gas fees.
Pepe is in the incubator, getting ready to be reborn! 🐸🧪 pic.twitter.com/yjZuDr0cee
— Pepe Unchained (@pepe_unchained) August 14, 2024
Pepe Unchained is a token that is based on PEPE and is devising a plan to break free from the meme coin’s Ethereum links and embrace the future. With the new ICO, Pepe Unchained offers double staking rewards.
The project is also set to tackle the scalability, speed, and efficiency issues that often plague meme coins built on layer-1 blockchains such as Ethereum. As a result, Pepe Unchained enables investors to seize market opportunities with greater efficiency.
Token holders can also earn passively through the platform’s staking system, which offers 223% annual rewards.
You can buy $PEPU tokens for $0.0090901 each. With a price hike coming in about one day, buy soon to lock in the best deal.
Purchase $PEPU from the official website here using ETH, USDT, or a bank card.
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