Aave (AAVE) has been going through a period of recovery over the last few days. Some of the losses suffered during crypto winter are being reversed by the leading DeFi protocol. The launch of Lens, a social media protocol called Lens, could propel AAVE higher. These are some highlights:

• The new Lens protocol is an open platform for social media built on Polygon. It aims to use off-chain storage.

• Although the launch didn’t immediately result in a bullish breakout of AAVE, analysts believe this will happen in the near future.

• Besides, the indicators show a clear bullish divergence of AAVE’s price action.

Data Source: Tradingview

AAVE – Price prediction and analysis

At the time of writing, Aave (AAVE) was trading at $177. 55 down about 1% for the day. The coin has risen 7.5% over the past week, despite all this. We have also seen the DeFi token smash past its 100-day Exponential moving average.

As the news about the launch of social media begins to spread, it is probable that AAVE will experience a bullish uptrend. This will take the price action closer or above the 200-day EMA of around $205.

We also expect the DeFi token to consolidate around that price and surge towards $210 in the near term. This will represent an upswing of around 16% from its current price.

Why Aave (AAVE) is a decent investment?

AAVE, one of the most promising DeFi initiatives in the crypto market at the moment, is AAVE. It allows users to borrow and loan crypto in a completely decentralized way.

Having launched in 2017, Aave has been delivering immense value to investors and is expected to continue the same trend in the future. If you want to get exposure to promising DeFi tokens, AAVE is the best choice.