AAVE Price Rebounds After DAO Rolls Out New Buyback Program—Will This Trigger a 50% Recovery This Month?
At the time when volatility hit the cryptographic markets, market players became uncertain during the next price action. In such situations, positive towers generally attract a significant volume to the platform, which is observed with Aave. The volume of negotiation on the platform has jumped in particular by more than 65%, reaching nearly $ 595 million. With this, the Aave price recovers $ 200, which is supposed to raise the token above the lower influence.
Aave Dao offers a buyout plan
In a recent update, Aave Dao has introduced a major governance proposal which aims to strengthen the income model. Excess income should be redistributed and liquidity management have also been proposed. The approval of these proposals and the implementation could do without a formal process.
According to the new proposal, Aave Dao plans to buy a million dollars each week by introducing a takeover and distributing excess income. This should improve the financial performance of the protocol and global liquidity. In addition, the proposal also includes the end of the migration of loan token, ensuring a strong financial structure with sustained growth.
Will the Aave price reach $ 300?
The Aave price had slipped below the crucial support zone while the Bears held a close grip on the rally in the last days of February. Although the Bulls tried to interrupt the lower influence, the cryptography market accident resulted in the levels of almost $ 180. However, the recent announcement of a new buyout plan seems to have induced a large volume of purchase on the token. However, the price is always necessary to exceed major turbulence, which can validate an increase in downward influence.
As the above graph shows, the Aave price is negotiated in an expanding channel, now the ascending trend line as solid support. However, the token has not yet exceeded broken support, while the MacD & CMF continues to remain uncertain, which raises certain concerns concerning the next price action. The MacD is about to undergo a bullish crossing, but the levels remain in the negative beach. In addition, the CMF has rebounded and increased above 0 but has not yet jumped above 0.14 since the start of the year.
Consequently, the AAVE price is necessary to increase and reach provisional resistance to $ 227 initially and later at $ 280, which could alleviate the lower clouds hovering on the token. With this, the price could recover $ 300 and go to the new annual heights.
