AAVE Price Rebounds After DAO Rolls Out New Buyback Program—Will This Trigger a 50% Recovery This Month?
As volatility hits crypto markets, uncertainty among market participants about the next price action becomes uncertain. In this case, positive rounds usually attract a large volume on the platform, which is seen by ave. Trading volumes on the platform have surged significantly by more than 65% to nearly $595 million. therefore, ave price Retrieve $200, which is believed to raise the token above the bearish effect.
Aave Dao proposes a repurchase plan
In a recent update, Aave Dao has proposed a major governance proposal aimed at strengthening the revenue model. Excess revenue is expected to be redistributed and an upgrade of liquidity management is proposed. Approval of these recommendations and implementations can be through formal procedures.
Under the new proposal, AAVE DAO plans to repurchase $1 million in AAVE per week by introducing repurchases and distributing excess revenue. This is expected to improve the financial performance and overall liquidity of the agreement. In addition, the proposal includes termination of the termination of loan migration, ensuring a strong financial structure with sustained growth.
Will the AAVE price reach $300?
When the Bears gripped the rally in the last few days of February, the price of AAVE was already below the key support zone. Despite the Bulls’ efforts to eliminate the bearish effect, the cryptocurrency market crash dragged to near $180. However, the new repurchase program recently announced appears to have caused a large amount of token purchases. However, prices still need to exceed significant turbulence, which may increase from bearish effects.
As shown in the above chart, AAVE prices are trading within the expanded channels and use the uptrend line as a strong support. However, the token has not exceeded the support of the breakdown, and MACD&CMF remains uncertain, which raises some concerns about the next price action. MACD is about to go to a bullish crossover, but the level is still in the negative range. In addition, the CMF rebounded and rose above 0, but has not soared to above 0.14 since the beginning of this year.
So, initially, aave price is needed to surge and soar at $227 and reach temporary resistance at $280, which could fade into the circling bearish cloud. In this way, the price could be recovered $300 and towards the new year.
