Why Aave could be poised for a new rally

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Aave News

Cryptocurrencies,Technical Analysis

Aave (AAVE) price surged 10% following a retest of its critical support area on Monday, now trading 6% higher on Tuesday near $92.00.

Aave price rebounded 10% from support area between $76.50 and $72.55 on Monday and trades up 6% near $92.00 on Tuesday. Network Realized Profit/Loss metric shows

daily chart On-chain data provider Santiment’s Network Realized Profit/Loss indicator computes a daily network-level Return On Investment based on the coin’s on-chain transaction volume. Simply put, it is used to measure market pain. Strong spikes in a coin’s NPL indicate that its holders are, on average, selling their bags at a significant profit. On the other hand, strong dips imply that the coin’s holders are, on average, realizing losses, suggesting panic sell-offs and investor capitulation.

Network Realized Profit/Loss and Supply on Exchanges chart Santiment’s Daily Active Addresses index, which helps track network activity over time, aligns with the bullish outlook noted from a technical perspective. A rise in the metric signals greater blockchain usage, while declining addresses point to lower demand for the network. In

 

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