AAVE\u2019s price seemed to be forming a base around a stable support level, at press time, hinting that an uptrend is likely for the altcoin. In fact, the day opened extremely bullish for the crypto as AAVE founder and CEO Stani Kulechov tweeted an interested tweet.<\/span><\/p>\n Kulechov claimed that he will \u2018joining\u2019 Twitter as interim CEO.<\/span><\/p>\n BREAKING: Joining Twitter as interim CEO<\/p>\n \u2014 stani.eth (\uea00,\uea00) (@StaniKulechov) April 26, 2022<\/a><\/p>\n<\/blockquote>\n Investors have had their eyes set on Twitter over the past few days due to Tesla CEO Elon Musk\u2019s bid to buy Twitter at $44 billion. The board agreed to Musk\u2019s offer, causing the market to react wildly.<\/span><\/p>\n While unconfirmed, Kulechov\u2019s tweet caused AAVE\u2019s price to spike aggressively by nearly 10%. The on-chain volume has also seen a considerable uptick. Regardless of the weight behind the tweet or if it turns out to be a joke, AAVE buyers seem to be flocking and could trigger a minor upswing.<\/span><\/p>\n Although AAVE\u2019s price has returned gains of 6.6% today, there is a chance this hype around the coin could trigger a further move to the north. Moreover, the altcoin is bouncing off the $159.66 support level, adding credence to the upswing.<\/span><\/p>\n Therefore, a bounce off the said foothold is likely to trigger a 20% upswing before retesting the lower limit of the breaker, extending from $203.40 to $227.80. This technical formation is formed after two main conditions are met \u2013<\/span><\/p>\n So far, AAVE\u2019s price has done exactly that, therefore, any rally will be capped between the breaker\u2019s limit, ranging from $203.40 to $227.80. Interested investors can open a long position now and book profits at $203.40 to capitalize on the 20% ascent. The stop losses can be kept just at the 25 April swing low of $153.52.<\/span><\/p>\n Source: AAVE\/USDT on TradingView<\/p>\n<\/div>\n Supporting this move for AAVE\u2019s price is the 30-day Market Value to Realized Value (MVRV) model. This indicator is used to gauge the sentiment of holders by tracking the average profit\/loss of investors who purchased AAVE tokens over the past month.<\/span><\/p>\n Generally, a negative value indicates that these holders are underwater and a positive value indicates that holders are in profit. Hence, the probability of a sell-off is high in the latter condition.\u00a0<\/span><\/p>\n Santiment\u2019s backtests reveal that a value between -10% to -15% is the best place for long-term holders to accumulate and is appropriately termed an \u201copportunity zone.\u201d<\/span><\/p>\n At press time, the 30-day MVRV was hovering around a local bottom at roughly -12%. This is a perfect accumulation zone for long-term holders and falls in line with the technical perspective\u2019s bullish forecasts.<\/span><\/p>\n\n
AAVE\u2019s price and its blockades<\/strong><\/h4>\n
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