$AAVE is trying to recover, but structure is still fragile.

From the chart, price dumped hard from the 123–124 region and swept liquidity down to 111.20. That wick is important — it shows aggressive buyers stepped in at the lows. The bounce from 111 to 118 was sharp, meaning short-term relief momentum is active.

Right now price is hovering around 118–119, which was previous intraday resistance. This level now acts as a decision zone.

What I see:

• Clear lower high structure on the higher timeframe
• Strong rejection from 131 previously
• Recent liquidity sweep at 111
• Relief bounce, not confirmed trend reversal yet

If 114 is your stop level, that makes sense structurally. Below 114, price likely revisits 111 and potentially breaks it. That would continue the bearish market structure.

For bulls to gain control, AAVE needs to:

• Hold above 114
• Reclaim 120–123 with strength
• Print a higher low above 114

If that happens, this bounce can evolve into a proper trend shift.
If 114 breaks, this move becomes just another lower high inside a broader downtrend.

Right now it’s a recovery attempt — not a confirmed reversal. Watch how it reacts around 120.