$AAVE which is currently priced at $267.00 with a 1-day candlestick interval. The chart shows a strong uptrend from around $115.03 on April 11 to the current price, with some consolidation and pullbacks along the way. Since this is a one-day trade with medium risk, we'll aim for a setup that balances potential reward with controlled risk.
### Chart Analysis:
- **Trend**: The overall trend is bullish, with higher highs and higher lows. The price recently pulled back to $276.23 before recovering to $267.00.
- **Support/Resistance**:
- Support: Around $251.18 (a recent low on the chart).
- Resistance: Around $284.28 (a recent high on the chart).
- **Volatility**: The price has shown significant movement, with a 2.80% increase in the last 24 hours, indicating momentum.
### Trade Setup (Medium Risk, 1-Day Trade):
- **Entry Point**: Enter at $267.00 (current price). The price is near support after a pullback, and the uptrend suggests potential for a continuation.
- **Take Profit (TP)**: Set at $276.23 (recent high). This gives a potential profit of $9.23 per unit, aligning with the medium-risk approach by targeting a realistic resistance level within a day.
- **Stop Loss (SL)**: Set at $251.18 (recent support). This gives a risk of $15.82 per unit, which is below the support level to account for potential wicks.
- **Risk/Reward Ratio**: Risk = $15.82, Reward = $9.23, so the R:R is approximately 1:0.58. While not ideal (typically aiming for 1:1 or better), this fits a medium-risk, short-term trade in a strong trend.
### Summary:
- **Entry**: $267.00
- **Take Profit**: $276.23
- **Stop Loss**: $251.18
- **Risk/Reward**: 1:0.58 (medium risk)
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