AAVE rose strongly 17%, breaking through key resistance and standing above $175.
U.S. Treasury yields climbed above 5%, intensifying competition for funds in the decentralized finance (DeFi) space. Bulls must hold on to the support level of $155 to maintain momentum towards $180.
AAVE attracted the attention of traders with a strong rebound, pushing the token price past the $175 mark. This trend comes at a surprising juncture: U.S. Treasury yields have climbed above 5%, causing the entire financial market to face fierce competition for funds. Despite these headwinds, buyers continued to accumulate AAVE positions, pushing prices higher. Recent breakthroughs have strengthened bullish sentiment, but a key question remains: Can bulls defend former resistance near $155 and continue the rally?
AAVE broke through the resistance level and the upward momentum accelerated.
AAVE showed strong upward momentum in early September and showed no obvious signs of slowing down. On September 29, the token rose more than 17%, climbing from about $149 to more than $175. This rebound is not without warning. Buyers have steadily pushed prices higher since mid-August. During this period, AAVE traded below $90 and subsequently recovered several important thresholds. The token first exceeded $120, and then the buyer pushed the price past $140, and finally conquered $150. Each breakthrough adds confidence to the broader upward trend.
The most important development occurred when AAVE broke through the $150 to $155 range. Previous rallies have failed many times in the region, but buying demand this time proved sufficient to overcome selling pressure. The breakthrough cleared the way to $175 and pushed AAVE prices well above previous September highs. The technical structure remains favorable for bulls, with AAVE trading above the main moving average, reflecting strong performance over multiple time frames. This layout usually marks an increase in market confidence.
The market's attention is currently turning to the $180 level. Integer barriers tend to attract profit-taking activity, and traders often reduce exposure near these areas after a strong rebound. However, price movements near $155 may be more important than the next upside target. In a healthy uptrend, front resistance usually translates into support. Holding this area will further strengthen the bullish logic.
Rising Treasury yields pose new challenges for DeFi
Although AAVE enjoys strong upward momentum, the broader market environment remains challenging. U.S. ten-year Treasury yields have recently climbed above 5%, a level that has not been seen in many years. Higher government-bond yields would divert money that would otherwise flow to risky assets. Many investors compare returns when allocating money, and government bonds now offer attractive yields with significantly lower risk.
这一现实给去中心化金融项目带来了压力。部分市场参与者可能会质疑,通过DeFi平台进行借贷是否仍具吸引力。传统的固定收益产品现在提供了极具竞争力的替代方案。即便面临这些挑战,市场对AAVE的需求依然出人意料地强劲。尽管宏观环境发生变化,买家仍在持续入场。
Aave生态系统内的近期发展可能也促成了投资者的关注。9月28日,一项风险提案建议调整几种资产的借款条件。其中一项拟议变更涉及USDe的借款利率,建议从6.3%上调至6.6%。这一调整反映了对借款活动、可用流动性及头盘健康状况的综合考量。

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