In crypto markets, AAVE has rebounded from roughly $60 support in June 2026 and is closing on its 200-day EMA in August 2026; a clean break above ~$108 is the key technical trigger that could reopen targets at $120 and $160+, echoing a prior ~650% rally to $399 after a 200-day breakout in late 2023. On-chain DeFi fundamentals back the upside: active addresses are rising, total stablecoins supplied on Aave are $8.98B with $7.40B borrowed (82.46% utilization), and Aave V4 shows $389.1M supplied, $130.9M borrowed and reported TVL of $258.3M, indicating stronger adoption and lending activity for the token.

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The AAVE price chart has developed an interesting structure. After finding support around $60 in June 2026, the token has climbed into August and is steadily closing the gap with its 200-day EMA. The level to watch is roughly $108, and a clean break could put $120, $160 or higher back on the table.

AAVE Price Is Approaching The Big Technical Test

There’s a reason traders are watching the setup. In late 2023, AAVE broke above its 200-day EMA and eventually rallied roughly 650%, lasting several months before reaching $399.

History obviously doesn’t guarantee a repeat. Still the odds of repeating cannot be denied fully, the current structure is beginning to resemble that earlier setup, with the token recovering from major support and moving toward the same long-term trend indicator.

If AAVE price can flip the $108 area and hold it, the technical picture could strengthen considerably.

Rising Addresses Point To Stronger User Interest

The chart isn’t the only thing showing improvement. AAVE active addresses are trending higher, suggesting user interest has been rising alongside the price recovery.

That matters because a technical breakout backed by increasing network activity is easier to take seriously than a move driven purely by speculation.

Stablecoin Activity Keeps The Protocol Busy

Aave’s dashboard also shows substantial stablecoin activity. Total stablecoins supplied have reached $8.98 billion, while total stablecoins borrowed stand at $7.40 billion, putting stablecoin utilization at 82.46%.

Aave V4 is showing activity too. Total supplied has reached $389.1 million, against $130.9 million borrowed, leaving reported V4 TVL at $258.3 million after subtracting borrowing.

So yes, the AAVE price still needs to prove itself above $108. But with active addresses rising and substantial lending activity across Aave, the setup is becoming one worth watching rather than blindly dismissing.

Read the article at Coinpedia