Aave (AAVE) gains institutional backing, with key metrics hinting at a potential bullish recovery.

Key Statistics:

- AAVE price: $166.09.
- 24-hour change: -2.50%.
- Institutional backing: BlockTower Capital acquires 15,580 tokens.
- Deposits: $25 billion+.
- Transaction count: 3,060 (1.03% increase).

Technical Analysis:

- Resistance level: $170.68.
- 9-day/21-day MA: Bearish crossover.
- RSI: 51.28 (neutral trend).

On-Chain Metrics:

- Network growth: Steady adoption.
- Transaction volume: Increasing.
- Liquidations: Long liquidations outpace shorts ($51.83K vs. $6.11K).

Potential Outcomes:

- Breakout above $170.68: Rally ignition.
- Failure to reclaim resistance: Bearish continuation.
- Sustained bullish momentum: New highs.

Predictions:

- Short-term: $180-$200 (bullish targets).
- Long-term: Continued growth and adoption.
- Market sentiment: Cautious optimism.

Monitor AAVE's technicals, on-chain metrics, and market sentiment to confirm sustained momentum and potential pullbacks.