$AAVE Short Liquidation: Bulls Charge Through $341.618
AAVE witnessed a sharp rally as $4.851K in short positions were liquidated at the key level of $341.618.
This liquidation underscores robust bullish momentum, forcing shorts to retreat as buyers dominate the market.
Key Details:
Liquidation Amount: $4.851K
Liquidation Price: $341.618
Market Sentiment: Bulls are in full control, signaling potential continuation of the upward trend.
Next Moves for Traders:
1. Resistance to Watch: Immediate resistance lies at $350.00.
A breakout above this level could drive prices toward the $360.00-$365.00 zone.
2. Pullback Levels: In case of a correction, $335.00 is a critical support level to monitor.
Sustaining above this level will maintain the bullish structure.
3. Momentum Indicators: Look for increasing volume and RSI above 70 as signs of sustained bullish momentum.
Divergence or overbought signals could suggest caution.
Suggested Stop-Loss Strategy:
For Long Positions: Place stop-loss orders below $335.00 to secure gains against potential pullbacks.
For Short Positions: Tighten stop-loss orders above $350.00 to minimize losses if the upward trend strengthens.
$AAVE powerful breakout demonstrates strong market interest.
Traders should act decisively, using disciplined risk management to navigate the market’s dynamic environment.