AAVE began the year 2024 on a slow note but the overall look at the AAVE price shows it is gaining significant momentum. It rose over 118% in a year even though last week seemed sluggish. However, the protocol recently launched the v3.2 upgrade, and experts think that could boost the AAVE price rally.
This upgrade raises an important question as to whether this would continue and the protocol could make a new high, probably above the $200 level. The big question now is whether the momentum will persist as it reaches significant resistance levels.
AAVE Price Dips, But v3.2 Upgrade Signals Strength
Analysis of the recent AAVE price action reveals that the price has indeed been positive since October 2023, as it followed an ascending support trend line. Indeed, it successfully made multiple attempts to break above the resistance level of $150.
While the recent upgrade to Aave v3.2 has undoubtedly equipped the protocol with significant new functionalities that could underpin price rally.
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