AAVE Surges Past Key Resistance as DeFi Market Reaches $219B Milestone

AAVE Rallies as DeFi Market Tops $219 Billion

Aave’s AAVE token rebounded strongly on Oct. 3, pushing past key resistance levels despite some short-term profit-taking above $290.

The token is up 2% over the past 24 hours and 6% for the week, with support established near $284–$285, while it consolidates around $290.

The broader crypto market also showed strength, with Bitcoin (BTC) climbing above $122,000, approaching its August highs. The DeFi market surged to a record $219 billion in total assets, according to DeFiLlama, highlighting robust growth in the sector.

Aave Platform Sees Record Deposits
Aave’s total deposits hit a record $74 billion, reinforcing its position as the leading DeFi lending protocol. A recent partnership with Plasma, a stablecoin-focused blockchain, contributed to strong inflows, with the Plasma lending market on Aave surpassing $6 billion in less than a week.

Technical Analysis

  • Intraday Range: $279.16–$294.33, peaking at $290.37.
  • Support Zone: $284–$285 continues to hold.
  • Resistance Zone: $290–$294 remains a barrier to further gains.
  • Volume: Trading surged to 143,188 units, well above the 37,000 average.
  • Pattern: Consolidation near current levels suggests accumulation, while technical indicators signal potential for further upside despite short-term profit-taking.
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