Cryptocurrency News
DeFi token AAVE faces major correction after soaring 100% in a month
2022.07.16 06:30
![DeFi token AAVE faces major correction after soaring 100% in a month 1 DeFi token AAVE faces major correction after soaring 100% in a month](https://d1-invdn-com.investing.com/content/pic6befaae425c29b3eb454f5cf12aaa103.jpg)
The price of Aave (AAVE) has more than doubled in a month, but its bullish momentum could be reaching a point of exhaustion.
Notably, AAVE has surged by over 103% after bottoming out locally at $45.60 on June 18, hitting almost $95.50 this July 15. Nevertheless, the token’s sharp upside retracement move has brought its price closer to the level that triggered equally sharp pullbacks since early June.