๐ $AAVE
SHORT SETUP ๐
AAVE bounced off the sharp drop to $159.61, ran into its falling 99 MA, and is now rolling over under it with a string of small red candles. Iโm watching for a short on a push back up into the resistance zone, not chasing the current candle. ๐
Entry: $172.50 โ $174.00
TP1: $170.00
TP2: $167.00
TP3: $163.00
SL: $176.00
๐ป Why AAVE is on watch:
Price ($170.56) is sitting just under the 25 MA ($170.90), the 99 MA ($171.43) and the 7 MA ($171.47), with all three bunched overhead and the 99 MA sloping down since the drop from $187.88 The structure shows lower highs since the $187.88 peak, and the last push up to about $176 was rejected, so the recovery looks corrective inside a downtrend The last candles are small and red on thin volume, a sign buyers are running out of steam The $169.00 to $170.00 area is the first support, with the $159.61 low below it. A 1H close under $168.50 would confirm sellers are taking over.
Not financial advice. DYOR.
๐ Follow CoinDispatch for more daily trade setups and market updates!
SHORT SETUP ๐
AAVE bounced off the sharp drop to $159.61, ran into its falling 99 MA, and is now rolling over under it with a string of small red candles. Iโm watching for a short on a push back up into the resistance zone, not chasing the current candle. ๐
Entry: $172.50 โ $174.00
TP1: $170.00
TP2: $167.00
TP3: $163.00
SL: $176.00
๐ป Why AAVE is on watch:
Price ($170.56) is sitting just under the 25 MA ($170.90), the 99 MA ($171.43) and the 7 MA ($171.47), with all three bunched overhead and the 99 MA sloping down since the drop from $187.88 The structure shows lower highs since the $187.88 peak, and the last push up to about $176 was rejected, so the recovery looks corrective inside a downtrend The last candles are small and red on thin volume, a sign buyers are running out of steam The $169.00 to $170.00 area is the first support, with the $159.61 low below it. A 1H close under $168.50 would confirm sellers are taking over.
Not financial advice. DYOR.
๐ Follow CoinDispatch for more daily trade setups and market updates!