Native token of decentralized finance (Defi) lender Bird On Tuesday he recovered at its strongest price in three weeks, exceeding $ 290 when the defi loan sector is heating.
Aave saw considerable volatility throughout Monday and Tuesday, bouncing from NADIR from $ 277.57 to $ 291.11, winning 5%, according to Coindesk Research technical analysis data.
The volume patterns were maintained robust throughout the period, with notable peaks during the 12: 00-12: 13 over 2,000 units, confirming an authentic purchase interest and validating the sustained recovery of previous session minimums, the model said.
The recovery pattern suggests a substantial purchase interest at lower levels of around $ 277.00- $ 280.00, establishing possible support areas for a future price action, the model suggested.
The movement occurred when the broader defi loan space is enjoying a rebirth. Total blocked value (TVL) In the sector it rose to new maximums higher than $ 56 billion, exceeding the maximum levels of 2022, as shown by the defrite data.
AAVE is playing a dominant role in the growing trend: the protocol orders $ 26.4 billion in TVL through seventeen blockchains, according to defillma data. That means that Aave has more active on the platform than the next 30 protocols for rival loans, a market observer said.
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