Lost 50% Since June, Surged 32% in a Day; AERO Price Ready to Soar

• The AERO price has dipped by 40% in the first four days of July.
• Aerodrome Finance’s price has surged by 44% in less than 2 days.

When writing, the technical chart showed a massive fall of 81% in the AERO price since mid-April. From the last week of February, the Aerodrome Finance crypto price has witnessed intense buying pressure of 1800% in 45 days. The bullish momentum was extended to a new all-time high of $2.33 on April 12, 2024.

In the first 4 days of July, the AERO crypto price has lost 40% with four complete marubozu candlestick. However, it has rushed by 40% in the past 30 hours from the time of writing. The bulls have come back for now, let’s see if they continue or not.

At press time, the AERO crypto traded at $0.582 with an intraday gain of 11.60%. The market capitalization was $303.45 Million, and the 24-hour trading volume was $38.61 Million.

Is the AERO Price Eyeing for a 50% Upmove?

A source on X claimed that the AERO price could reach $0.60 by gaining 50%. In a 1-H time frame, the price chart displayed a V-shaped recovery, which surged by 37%. The bullish move indicates that the Aerodrome Finance price is on steroids. 

AERO Price Shows Reversal; Will It Reclaim the $1 Mark Soon?

The Aerodrome Finance price chart has displayed strong selling pressure in the daily time frame. It lost 40% last month and 40% in the first 4 days of July, indicating the sellers’ strength.

In the past few hours, the digital asset price has taken support at the $0.400 mark and has bounced back by 44%. It has witnessed a V-shaped recovery and triggered a pullback on 1-H.

Suppose the buyers keep adding $AERO in their positions, the price may remain bullish. Assuming the digital asset price exceeds the 20-day EMA, the buying momentum for the long term may observed and might approach the $1 hurdle.

Alternatively, selling pressure can be seen if the price cannot exceed the $0.600 hurdle and forms a bearish candlestick.

Turning to the technical indicators, the RSI has recovered from the oversold zone and triggered a golden crossover with the RSI-based moving average. 

Trend Reversal After Bulls’ Involvement?

AERO price has experienced significant volatility in the past few months. The recent surge of 44% and the potential for a 50% up move indicate a bullish momentum in the short term. However, the price will need to surpass key resistance levels, such as the $0.60 and $1 marks, to solidify a sustained upward trend. The support at the $0.400 mark and the bullish indicators, such as the recovery of the RSI from the oversold zone, suggest that the buyers are currently in control.

Technical Levels

The Aerodrome Finance crypto price is expected to face resistance from the $0.620 and $0.860 levels. The price may take support at the $0.400 and $0.100 mark.

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.