AAVE token has seen some major price movements lately, solidifying a 65% rise over the past month alone. The surge has been accompanied by renewed investor interest, growing momentum in the DeFi space, and notable whale accumulation patterns that have attracted considerable attention across the crypto community. Whale quietly accumulates 18,627 AAVE tokens Amid the price surge, a whale wallet identified as 0x372c made headlines after scooping up an additional 18,627 AAVE tokens worth approximately $4.96 million just hours ago. This latest transaction brings the whale’s total AAVE acquisition since May 1 to 118,768 tokens, valued at around $29.14 million at the time of writing. Currently, the wallet holds a massive 261,064 AAVE, translating to a total valuation of roughly $69.8 million based on the prevailing price of $277.62. Lookonchain @lookonchain · Follow Whale 0x372c bought another 18,627 $AAVE ($4.96M) 3 hours ago.This whale has bought a total of 118,768 $AAVE ($29.14M) since May 1 and currently holds 261,064 $AAVE ($69.8M). intel.arkm.com/explorer/addre… 10:54 am · 27 May 2025 258 Reply Copy link Read 37 replies This accumulation has been carried out exclusively via the Ethereum network, underscoring Ethereum’s continued dominance as the go-to platform for large capital movements in DeFi assets. Market analysts believe such substantial and steady accumulation from a single high-net-worth investor could signal strong conviction in AAVE’s long-term upside potential. In addition, the whale’s buying spree has coincided with a broader rally in the DeFi sector, which has recently shown signs of renewed strength after months of consolidation. AAVE technical setup hints at a major breakout Beyond whale activity, AAVE’s technical indicators point to an increasingly bullish structure, with several key moving averages supporting the upward momentum. The 7-day moving average currently sits at $262.52, comfortably above the 50-week and 100-week averages, which are nearly identical at $188.10 and $138.37, respectively. This alignment confirms a classic bullish crossover, often interpreted by traders as a signal of sustained upward momentum. More notably, AAVE’s weekly chart has formed a well-defined cup and handle pattern, a technical formation widely recognised for predicting strong bullish breakouts. The pattern began forming in early 2022 with a rounded bottom, followed by a downward sloping handle that recently bottomed out near the $114 support zone. AAVE price chart |Source: TradingView The $114 support aligned closely with the 100-week moving average, which provided a firm base for the recent rally back above $270. Since the handle structure hit its bottom, AAVE has reestablished upward momentum, suggesting that a full realisation of the bullish pattern could be imminent. Traders are now watching to see whether the token can overcome immediate resistance at $289.06, a level that, if breached, could open the door to even stronger gains. AAVE price forecast remains highly optimistic If the cup and handle formation unfolds as expected, AAVE could soon retest the neckline resistance near $399, marking a 43% climb from its current level. Such a move would not only confirm the bullish continuation pattern but also position AAVE as one of the top-performing DeFi tokens of this cycle. In an extended breakout scenario, technical projections suggest potential upside targets of $667 and even $752, implying a possible 178% rally from today’s price. These bullish forecasts align with broader market sentiments, which are increasingly shifting in favour of altcoins as the DeFi sector heats up once again. The timing of the whale accumulation, combined with a textbook bullish setup and strengthening fundamentals, provides strong tailwinds for AAVE’s upward trajectory. As capital continues to rotate into DeFi and altseason chatter grows louder, AAVE appears well-positioned to ride the wave higher in the coming weeks. The post Whale scoops 18,627 AAVE tokens as pattern signals major bullish breakout ahead appeared first on Invezz
