The writer's opinion presented in the following information should not be taken as financial, investment, trading, or any other type of advice. AAVE's price action has fallen to a crucial demand zone, but the futures market sentiment remains bearish. Most altcoins have been exposed to bears' wrath due to the uncertainty surrounding Bitcoin.

AAVE has experienced sell pressure in mid-July, dropping from a new Q3 high of $88, but it has entered a price consolidation between $69 - $76, which has cushioned it from further losses. The futures market has recorded muted demand, and the described bullish idea could be risky unless BTC reclaims $29.5k and surges upwards.