Dec 12, 2023
AAVE has presented two encouragingly bullish trends according to on-chain analytics firm Santiment in a recent post on X (formerly Twitter). Although the wider cryptocurrency market remains bearish, AAVE appears to display signs of support. Through close observation and analysis of the altcoin, Santiment was able to identify two meaningful bullish divergences – the amount of coins held by the top 150 wallets and the Relative Strength Index entering to a bounce zone.
The current count of money held in the top 150 wallets riding AAVE is 9.61 million coins, the highest number such wallets have held for five months. Additionally, a bullish movements is responsible for driving up the price of the altcoin rapidly closer to the middle of the pack among its peers. With a Relative Strength Index now in a zone fluctuating between surplus and short bourbon, AAVE keeps pointing towards a possible uptrend in the near horizon.
