$AAVE

🔍 Technical Analysis

Resistance Levels:

$290 (near intraday high)

$300

🥸Support Levels:

$270 (near current price)

$260

❤️‍🔥The Relative Strength Index (RSI) is currently above 50, indicating a neutral market sentiment.  The Moving Average Convergence Divergence (MACD) is showing signs of bearish momentum, suggesting potential further downside if support levels are breached.

📈 Trade Plan for Today

💯Bullish Scenario:

👉Entry Point: Consider entering a long position if the price breaks above $290 with increased volume.

💅Target Price: Aim for a target of $300, with a secondary target at $310.

👀Stop Loss: Set a stop loss at $270 to manage risk.

🧑‍🦲Bearish Scenario:

🪭Entry Point: Consider entering a short position if the price falls below $270 with increased volume.

🔦Target Price: Aim for a target of $260, with a secondary target at $250.

📍Stop Loss: Set a stop loss at $290 to manage risk.

⚠️ Risk Management

✂️Position Size: Limit each trade to 1-2% of your total trading capital.

🫧Leverage: Avoid using leverage due to current market volatility.

🏹Monitoring: Regularly monitor market conditions and adjust your strategy accordingly.

🧠 Final Thoughts

📇AAVE's current market situation presents both opportunities and risks.  While there is potential for a rebound, the prevailing bearish momentum requires cautious trading.  Stay informed about broader market trends and adjust your strategy as needed.