The week has come to a close, colleagues! Let's finish it on a high note - let's take a look at another asset in our portfolio, specifically $AAVE 🚀
Aave is a DeFi lending protocol based on Ethereum💲 and other EVM-blockchains. It allows users to access instant loans, known as flash loans, that must be paid back in the same transaction they were taken out in.
The $AAVE token is the governance token of the platform, and it remains among the top 30 most capitalized tokens🔥. Despite its current position, the project is actually at the heart of decentralized finance, as it was one of the first projects in the space, dating back to 2017💎
➡ It has stood the test of time and proven itself as a reliable asset for me!
Investmentswere mainly attracted through ICOs and pre-sales, which confirms✅ that promising projects are launching tokens on the market in this format. Also, during the first hype wave⚡ in the DeFi sector in the summer of 2020, large companies invested another $32.5 million💰
🔎The chart shows that we have reached local support at $266.55 - $275.82. Overall, I expect the market to grow📈 after the start of the new week. Therefore, we should not expect a deeper correction, and we should add AAVE to the portfolio at current prices.
Local targets are $297.05 and $315.53 👉 the boundaries of nearby resistance zones.