$AAVE is trending at No. 6 on the Square, but it’s down 25.6% in 20 days and needs to rise 34% just to break even
OKX spot data (14:36):
・Opened at 183.92 on 10/6; now at 136.88, down 4.4% over 24h and 10% over 7 days
・Each rebound peak has been lower than the last: 165.98 on 10/16, 160.52 on 10/21, 156.10 on 10/22, and 145.39 yesterday
・It hit a low of 134 at 11 p.m. last night; today it has traded sideways in a narrow 136.3–138.7 range
・Perpetual funding rate: −0.0069%; the 8 a.m. settlement was negative too
A 25.6% drop and the 34% gain needed to break even are not the same figure. That’s the easiest thing to miscalculate when trying to buy the dip in a downtrend. The peaks keep getting lower, which means people are selling into every rebound.
My take: Until it gets back above 145, I’d treat this only as a rebound within a downtrend. 134 was last night’s low; a break below it would set a new low. If you’re buying the dip, put your stop-loss below that level and keep your position small. Trending doesn’t mean money is flowing in.
Not investment advice. Investing involves risk.
#AAVE #DeFi #Cryptocurrency #CryptoBeginners
OKX spot data (14:36):
・Opened at 183.92 on 10/6; now at 136.88, down 4.4% over 24h and 10% over 7 days
・Each rebound peak has been lower than the last: 165.98 on 10/16, 160.52 on 10/21, 156.10 on 10/22, and 145.39 yesterday
・It hit a low of 134 at 11 p.m. last night; today it has traded sideways in a narrow 136.3–138.7 range
・Perpetual funding rate: −0.0069%; the 8 a.m. settlement was negative too
A 25.6% drop and the 34% gain needed to break even are not the same figure. That’s the easiest thing to miscalculate when trying to buy the dip in a downtrend. The peaks keep getting lower, which means people are selling into every rebound.
My take: Until it gets back above 145, I’d treat this only as a rebound within a downtrend. 134 was last night’s low; a break below it would set a new low. If you’re buying the dip, put your stop-loss below that level and keep your position small. Trending doesn’t mean money is flowing in.
Not investment advice. Investing involves risk.
#AAVE #DeFi #Cryptocurrency #CryptoBeginners