AAVE set for reversal: Can it escape the accumulation zone? – BitRss

• AAVE ($261.83)’s Open Interest surge suggests increased engagement and potential breakout.
• Rising active addresses signal growing network activity and support for upward movement.

Aave [AAVE] is currently showing strong signs of a potential reversal after bouncing from its accumulation zone. At press time, the price was $267.39, up by 5.07% over the past 24 hours. 

With the asset continuing to build momentum, traders are closely monitoring the situation to see whether AAVE can break free from its consolidation phase and continue upward.

AAVE Open Interest surge: What does it imply?

Open interest is a crucial metric for gauging market sentiment, and AAVE has seen a rise of 23.76%, reaching a total of $290.79M according to Coinglass data.

This increase indicates that more traders are entering the market, which often precedes a larger price movement. 

A rise in Open Interest signals that traders are expecting volatility, as more positions are being taken on both sides.  

Analyzing key resistance levels

Price action analysis shows that AAVE is test…