The 1-month heatmap highlighted the buildup of liquidation levels around the extremes of the range, at $240 and just above $280.
Over the past couple of days, AAVE raced toward the $280 magnetic zone and was able to surpass it easily.
Zooming in on the 3-day heatmap, we can see that the move higher stalled for a few hours at the $290 mark. This gave time for short liquidations to expand in the $295-$300 region, and was taken out too.
At press time, the $320 and $305 were the short-term magnetic zones. Aave traders can watch out for a range formation.
A price drop toward the $285 zone, just above the former range high, would offer an attractive buying opportunity.
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