Aave (AAVE) has surged 4.65% over the past hour to $73.50, based on the latest data. AAVE has a market cap of $1.01 billion and 24 hour trading volume of $40.83 million.

AAVE's 4.65% hourly gain shows bullish momentum is accelerating after a period of consolidation. Over the past 24 hours, AAVE is up 2.66% and over the past week it has gained 1.89%. Zooming out shows AAVE is roughly flat over the past month, down just 0.19%, and down 14.18% over the past 6 months.

Today's surge looks to be breaking AAVE out of its recent trading range between $70-$75. Heavy trading volume shows increased interest from buyers. AAVE may now challenge overhead resistance around $78.

Is Aave Positioning for a Continued Uptrend?

Aave's technical picture looks increasingly bullish after surging 4.65% to break its recent consolidation pattern. Renewed upside momentum is being signaled by rising volume.

To confirm the breakout, AAVE needs to establish support above $73 on any pullbacks. This would keep the short-term trend bullish for a retest of $78 resistance.

If AAVE can penetrate $78, it would flash a strong buy signal and open the door for an extended rally. The cryptocurrency remains in an overall uptrend, so momentum favors the bulls.

Traders should watch for volume spikes on future breakout attempts to ride additional upside. Key support sits around $70.

Should You Buy Aave After the Recent Breakout?

Aave has seen a bullish technical breakout that could signal further upside ahead. However, as with any breakout, allowing pullbacks to support makes for a lower risk entry.

For short-term traders, waiting for a retest of $73 or even $70 support could provide confirmation. Entries could be timed on bounces off those levels.

Long-term investors may prefer dollar cost averaging over time to build exposure. While not optimal for big short-term gains, it helps avoid overextending and allows benefiting from extended up-trends.

With AAVE in a long-term uptrend, a dollar cost average approach could pay off handsomely over time for investors with a multi-month outlook.