$AAVE pulled off a full V. Two days ago one 4h candle dumped it from about 133.4 to 118.3 (wick to 115), and now it's back at 131.3, up around 9% on the day with $121M of futures volume.
What I like less is the positioning. Binance OI is flat around $52M, actually below the ~$56M it had before the dump, so this bounce isn't fresh leverage piling in. Funding has drifted slightly negative (about -0.01%), but top traders are still roughly 63% long by position. Some shorts are leaning on it, the bigger accounts aren't selling.
On the NanoTrading Fire chart 4h, the liquidation heatmap has dense bands stacked right above at 133-135 and again around 137-140, which is where price broke down from. Below, there's a thick pocket at 124-129 that the bounce left behind.
My read: a clean break of 133-135 probably sweeps toward 138-140 fast. Losing 128 and that lower pocket comes into play. I'm watching how $AAVE handles 133 before doing anything 👀
Is this V the real recovery, or does 133-135 cap it again?
NFA, just my chart notes.
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#AAVE #DeFi #NanoTrading
What I like less is the positioning. Binance OI is flat around $52M, actually below the ~$56M it had before the dump, so this bounce isn't fresh leverage piling in. Funding has drifted slightly negative (about -0.01%), but top traders are still roughly 63% long by position. Some shorts are leaning on it, the bigger accounts aren't selling.
On the NanoTrading Fire chart 4h, the liquidation heatmap has dense bands stacked right above at 133-135 and again around 137-140, which is where price broke down from. Below, there's a thick pocket at 124-129 that the bounce left behind.
My read: a clean break of 133-135 probably sweeps toward 138-140 fast. Losing 128 and that lower pocket comes into play. I'm watching how $AAVE handles 133 before doing anything 👀
Is this V the real recovery, or does 133-135 cap it again?
NFA, just my chart notes.
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#AAVE #DeFi #NanoTrading
