$AAVE Bearish Setup: Rejection & Drift
$AAVE saw a swift rejection after that recent pop, and it’s now sliding back into the previous lower pocket.
Short Trading Plan
Entry Zone: $92.60 – $96.80
Stop Loss (SL): $99.90
Take Profit (TP): $87.20, $82.60
The most recent attempt to push higher was met with immediate selling pressure. Those long upper wicks show a lack of conviction at the highs, followed by a direct roll-over. Currently, price action is hovering mid-range without a solid bounce; every minor uptick seems to lose steam quickly.
I’m positioned with a light entry, letting the trade develop as long as price remains suppressed by that failed breakout attempt. The initial recovery had momentum for a second, then flatlined, unable to sustain itself past the resistance zone. If $AAVE manages to reclaim the upper levels and stabilize, the thesis is invalidated. I’ll exit the position if it holds above the range and stops its downward drift. Still leaning short and monitoring the reaction on the next minor relief attempt.
Short now 👇
