- Aave price is largely flat on the day as top cryptocurrencies surge.
- But with price predictions for Bitcoin bullish, could AAVE reclaim $200?
- The broader market is also seeing slight gains amid tariff news
The cryptocurrency market has seen some upside moves in the past 24 hours.
Price movements across crypto include Bitcoin’s return to above $82k, while Ethereum has reclaimed the $1,560 mark.
Amid this broader market uptick, Aave’s price stands at $135.
With altcoins such as Onyxcoin skyrocketing, can Aave bulls ride a possible short-term surge to retake the $200 level?
Bitcoin going up and the S&P 500 recording gains as investors ponder economic data amid tariff concerns are key catalysts to watch.
Aave’s price performance today
Over the last 24 hours, Aave has experienced largely muted activity as intraday gains sit at just 0.7%.
This follows significant declines that have AAVE dropping by 8% in the past week and 20% in the past month.
It’s a pullback that aligns with a broader market downturn.
However, Aave remains among the top cryptocurrencies by market cap, and a flip for BTC or top altcoins could elevate it.
Analyst points to a disconnect in risk assets
The current market environment, as highlighted by Scott Melker in his X post on April 11, 2025, paints a concerning picture for risk assets.
Melker notes that the US Dollar Index (DXY) has fallen by 9% from its 2025 peak.
Normally, such a dip lifts risk assets due to an inverse correlation.
However, this relationship looks to have broken down, with risk assets declining even more sharply.
It includes the S&P 500 that is down 15% from its year-to-date peak; Bitcoin has plummeted 25%.
“The usual playbook says a falling dollar should lift risk assets – but in 2025, that inverse correlation is breaking down,” the analyst noted via X.
Aave’s weekly decline fit into this narrative of risk-off sentiment.
This is where even a weakening dollar isn’t providing the expected boost to cryptocurrencies and other high-risk investments.
Noticeably unusual, they’re market dynamics suggest deeper underlying factors. Largely, it’s underlying macroeconomic issues.
AAVE price outlook
The 4-hour chart for Aave price shows a potential ascending triangle breakout.
As a bullish setup, this could see bulls go on a run amid upside continuation.
Key targets will be prices above $150.
If buyers take and sustain a price above the horizontal resistance line, a move to $200 is possible.
Nonetheless, Aave price may yet retreat to the lower trendline, a scenario that will strengthen bears.
