Will AAVE Price Pump or Dump as Trump’s DeFi Project Goes Live?

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As a seasoned crypto investor with a knack for spotting trends and navigating market volatility, I find myself intrigued by the current state of affairs in the DeFi space. The recent surge in Aave’s price is nothing short of impressive, especially considering the backdrop of political events that have unfolded.

The price of Aave continues to be robust before the debut of Donald Trump’s DeFi project, as Trump managed to survive a second assassination attempt in two months at his Florida golf club. The FBI swiftly took the assailant into custody following confirmation that Trump was unscathed.

Today saw the debut of Trump’s World Liberty Financial (WLFI) DeFi project, but it’s Aave that’s been grabbing headlines lately. Over the past week, Aave has seen an impressive 11% growth, surpassing many cryptocurrencies in the market. Looking at a longer timescale of 90 days, Aave stands out with a remarkable 66% increase in price. This surge is attributed to speculation that WLFI could utilize Aave’s protocol. With more than 90% of Aave’s total supply already in circulation, analysts anticipate further price rises. At the moment, AAVE is trading at $140.67 following a minor 3% dip.

Aave Price Retraces as WLFI Launch Follows Trump Assassination Attempt

At his golf club in Florida, Donald Trump was involved in a suspected assassination attempt – this is the second such incident within two months. The FBI verified that Trump escaped harm, and the suspect was promptly arrested after fleeing the scene. Police found an AK-47-like weapon, suggesting the act was planned in advance.

Today sees the much-awaited debut of Donald Trump’s World Liberty Financial (WLFI) DeFi initiative, as detailed in last week’s formal declaration.

.@WorldLibertyFi

— Donald J. Trump (@realDonaldTrump) September 12, 2024

As an analyst, I’ve noticed from his recent video update on his X account that Donald Trump appears to be stepping forward into the digital age with cryptocurrency, distancing himself from the traditional, sluggish, and outdated large banking institutions. This new venture, World Liberty Financial, has been in the works for several months and is being spearheaded by none other than Eric and Donald Jr. Trump.

The cost of Aave skyrocketed as rumors circulated about the possibility of WLFI operating on the Aave protocol within the Ethereum main network. Furthermore, it’s worth noting that 93% of the total Aave supply is currently in circulation, implying that inflation will come to an end shortly. As a result, the price of Aave could experience a massive increase due to the growing demand for its DeFi services.

The price of AAVE is trading at $140.67 today after slightly retracing 3% over the last 24 hours.

AAVE Technical Analysis: Why The Pump Is Not Over

In simple terms, the graph showing Aave’s price is among the few positive trends seen in the current cryptocurrency market. It shows a robust upward trajectory that started midway through 2023, characterized by a succession of lower lows and higher highs. Moreover, it has surpassed significant resistance barriers, indicating growing bullish energy.

The price of AAVE may encounter resistance at $186, which marks the next significant barrier. The chart suggests this level is the next major target for the bulls, indicated by the measured move projection from the breakout point. It constitutes a 32% upside surge from the current price.

Should Aave’s value surpass $186, it could pave the way for an even greater price increase, with a possible aim at the $200 to $220 zone, representing a potential rise of approximately 55%.

Will AAVE Price Pump or Dump as Trump’s DeFi Project Goes Live?

The cost of Aave is currently finding strong backing between approximately $130 and $135, a level that was once a barrier for growth, now acting as a significant foundation for potential price increases. However, if market conditions shift negatively and the price falls below $138, the subsequent support levels are at $100 and $80, should it continue to drop. Such a decline would challenge the current optimistic outlook on Aave, potentially pushing it back into a more stable phase rather than continuing its upward trend.

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2024-09-16 10:16