$AAVE The reported long liquidation of $5,237.2 at a price level of $300.989 indicates significant selling pressure, likely pushing the price lower. Traders may be panicking or institutions may have triggered a sell-off. Here's a detailed breakdown with a potential trade setup:
Current Trend and Analysis.
Trend: AAVE is likely in a short-term bearish phase due to liquidation pressure.
Support Zone: Look for a potential bounce at strong historical support levels.
Resistance Zone: Selling pressure may strengthen near resistance zones.
Trading Plan for AAVE.
Buy Zone (Entry Point):
Safe Zone: $285 - $295 (Wait for stabilization or confirmation of a reversal pattern).
Aggressive Zone: $270 - $280 (If bearish momentum continues).
Targets (Profit Levels):
1. Target 1: $315 (Near-term resistance).
2. Target 2: $330 (Mid-term resistance).
3. Target 3: $350 (Major resistance and strong psychological level).
Stop-Loss.
Place a stop-loss at $265, just below the aggressive buy zone to minimize risk.
Key Indicators to Monitor.
1. RSI: If RSI enters the oversold region (<30), a bounce is likely.
2. Moving Averages: Watch for a bullish crossover on short-term MAs (like 9 EMA).
3. Volume: Look for high buying volume in the buy zone to confirm entry.
Risk Management Tips.
Use only a small portion of your capital for this trade.
Follow the stop-loss strictly to prevent heavy losses.
If price breaks below $265, wait for a new setup.
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