$AAVE has surged over 24.6%, the price reaching $268 with trading volume spiking more than 64%. 📈
The surge comes after the U.S. Senate passes a key milestone in the GENIUS Act — a bill focused on regulating stablecoins — sparking renewed interest across the DeFi sector.
As AAVE plays a major role in the DeFi lending space, clearer rules around stablecoins could make a more stable and attractive environment for the platform to grow.
In line with the price jump, Aave’s TVL has soared to $30 billion — a 25% increase — further reinforcing bullish sentiment. 🔥
Technical Analysis 📊
➡️ On the 2-hour chart, $AAVE has broken out of an ascending channel that began in early May. The price has now moved above the upper trendline that previously acted as resistance.
➡️ The 50-day SMA, currently at $228.54, continues to act as good support, with the price staying above this level for the past two weeks. The RSI is at 76.89 — overbought territory — suggesting a possible short-term consolidation before further upside.
➡️ Key resistance lies at $275. A sustained breakout above this zone could set the stage for a push toward the $300 level.
