AAVEUSD (Chart of the day US session)

Aave is a decentralized non-custodial liquidity protocol where users can participate as depositors or borrowers. Depositors provide liquidity to the market to earn a passive income, while borrowers can borrow in an over-collateralized (perpetually) or under-collateralized (one-block liquidity) fashion.

Aave recent news-

Aave V3.1 is now live on all networks with active Aave V3 instances. Developed and upgraded by @bgdlabs and approved by the Aave DAO,the V3.1 enhancements improve the protocol’s overall security, operational efficiency, and usability.

AAVEUSD was one of the best performers today.

Any daily close above $115 confirms further bullishness.

AAVEUSD was the best performer for the past two days and surged more than 30%. The pair holds well above the short-term (21 and 55 EMA) and long-term moving average. It hit a high of $115.45 and is currently trading around $113.63.

The bullish invalidation can happen if the pair closes below $70. On the lower side, the near-term support is $96. Any break below targets of $85/$70. Breach below $70 targets $50.

The immediate resistance stands at around $115. Any breach above confirms a minor pullback. A jump to $120/$135 is possible. A surge past $135 will take AAVE to $173.

It is good to buy on dips around $105 with SL around $90 for TP of $135.

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