Aave is trading near a key resistance level after steady gains in recent weeks as on-chain metrics surge.
At press time, Aave (AAVE) is priced at $329, up 6% over the past 24 hours and 18% over the last month. Despite this momentum, the token still trades about 50% below its all-time high of $661 set back in 2021. The recent price recovery has been supported by rising activity across the protocol.
According to data from DefiLlama, Aave’s total value locked has now crossed the $30 billion mark for the first time, up nearly 57% from about $19 billion at the start of the year. Revenue has climbed as well, with monthly fees rising from $30 million in April to $40 million in May and $48 million in June. As of July 16, the protocol has generated over $1.4 billion in total fees.
Much of the renewed interest can be linked to several key developments announced over the past few weeks. On June 30, during the Ethereum Community Conference, Aave founder Stani Kulechov introduced the upcoming Aave V4 upgrade.
A unified liquidity layer, cross-chain lending support, and dynamic risk controls are just a few of the major improvements that the new version promises. Additionally, it will bring deeper integration with GHO, the native stablecoin of Aave. According to analysts, if adoption picks up speed, it could help push the token above $400.
There have also been structural changes in the ecosystem. In April, Aave Labs updated “Aavenomics” and announced a token buyback plan to improve supply dynamics and long-term value. In May, Aave also revealed that it would accept Uniswap (UNI) V4 LP tokens as collateral, allowing DeFi users to borrow against their liquidity positions by
From a technical perspective, AAVE is holding above key moving averages. The 10-day EMA is at $308, and the 20-day EMA sits at $294. The token is currently near the upper end of its Bollinger Band, just around $331, which often signals strong momentum.
With a relative strength index of 68.7, the asset appears to be getting close to overbought conditions. The MACD remains bullish even though momentum indicators are beginning to slow.
While a halt in momentum might result in a brief consolidation near support around $306 or $288, a clean break above $330 might open the door toward $350. But with protocol fundamentals improving, rising TVL, and a major upgrade on the horizon, AAVE remains on a promising path.
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