AAVE reached $176 on September 29 before retreating to test its former ceiling between $153 and $157, now turned into support. The token currently trades at $165, up 20% over 7 days and 31% over 30 days. The medium-term technical target stands between $220 and $237, with a first objective to break around $176 to $180. The invalidation threshold for the bullish scenario is set at $145. Aave founder Stani Kulechov mentioned the idea of burning tokens repurchased by the protocol, which could serve as a catalyst for stronger gains.
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