• AAVE hits $331, driven by whale activity and a drop in coin age, signaling strong growth.  
• Analysts predict AAVE could reach $1,000, with momentum backed by bullish market signals.  
• AAVE’s technical indicators show continued growth potential despite overbought conditions.

Aave (AAVE) broke through the $300 mark for the first time in over three years, reigniting interest in the altcoin, so much so that analysts have set their sights on a bold $1000 target.

This surge propelled AAVE to new highs, a level it hadn’t seen since November 2021. Interestingly, data from Santiment reveals that AAVE’s “Mean Dollar Invested Age” plummeted from 635 days to 537 days in just seven weeks.

This drop suggests that large holders are selling off their tokens after long periods of inactivity. The decrease in coin age indicates that previously dormant tokens are re-entering circulation, boosting bullish sentiment and price growth.

The chart also shows impressive returns for active traders. Over the last 30 days, AAVE returned 33%, while over the past year, returns reached 109%.

Read also: AAVE Price Surges as Whales Buy In, TON Faces Potential Crash

After a period of consolidation from mid-2022 through most of 2023, AAVE broke out, surpassing the $300 mark in late November and gaining momentum into December 2024.

This surge has now pushed AAVE to a market value of $4.96 billion, with a trading volume of $1.06 billion over the previous day. The price is up 22.35%, reaching $331.08.

Analysts Bold $1,000 Prediction

Adding to the excitement, crypto analyst Poseidon offered his AAVE price prediction. Poseidon identified a shift in market dynamics in his chart analysis, observing that AAVE’s price chart turned green, signaling a strong bullish trend.

He pointed to a sharp breakout in the price, which shattered the $300 barrier, suggesting the token’s potential to climb higher. His forecast places AAVE’s next major resistance at around $1,000 per token, hinting that the current momentum could lead to explosive growth in the coming months.

With a Fibonacci extension indicating a potential target of $1,040, the price surge could continue if the market remains favorable and whales continue to trade their coins.

Technical Indicators Support Continued Growth

AAVE’s technical indicators reinforce the idea that the token is set for continued growth. The MACD completed a bullish crossover, with the MACD line crossing above the signal line on December 10th.

This crossover indicates strong upward momentum, further supported by growing green histogram bars. Additionally, AAVE’s RSI is at 71.29, which suggests overbought conditions and highlights the strength of the ongoing bullish trend.