Aerodrome Finance is up more than 10% in the past 24 hours, extending its weekly gains as momentum returns to the Base ecosystem. The meeting comes as the process continues to benefit from the growth of DEX, the rise of whales, and renewed optimism about the reform of Predictive Allocation. Besides, the price of AERO has come out of a multi-month recovery and is now pushing towards a major resistance area near $0.55.
With buying pressure accelerating and increasing volume, traders are now looking to see if this explosion has enough power to make a big move or if profit taking can lead to a short-term pull ahead of the next leg.
Aerodrome Finance’s share price has started to recover after bouncing from the lower limit of its months-long upward trend, indicating a strong bullish trend. The recent breakout pushed AERO above its main range moving near the $0.42–$0.43 zone, a level that is now serving as the latest support for the ongoing uptrend. The move also came with a sharp rise in sales volume, implying strong market participation and growth in purchasing power.
Besides, the 50/200-day MA is approaching a strong confluence known as the ‘Golden Cross,’ which indicates that an upside is imminent. Currently, AERO is testing resistance at $0.53–$0.56, which remains an important barrier for bulls. A successful breakout above this zone could pave the way to the next major target near $0.64, aligning with the upper resistance of the formation.
On the downside, failure to break above the resistance may lead to a short-term pullback to the $0.42 support area. As long as AERO is still holding above this level, the bullish trend remains intact, creating opportunities to continue playing.
Looking ahead, Aerodrome Finance is still in a difficult position, with $0.53–$0.56 acting as a barrier for bulls. A definite move above this resistance could encourage a bullish push towards the $0.64 target in the near future, with another increase possible if buying pressure remains strong. However, if the indicator fails to clear this level, a short-term pullback to the $0.42 support area may follow before a major move. Meanwhile, the bullish trend remains strong as long as the price of AERO is above its support levels.
Was this post helpful?
Story Ends Here
Trust CoinPedia:
CoinPedia has been providing accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our team of expert researchers and journalists, following strict Editorial guidelines based on EEAT (Effectiveness, Expertise, Validity, Trustworthiness). Each article is checked against the standard to ensure accuracy, transparency, and reliability. Our review process ensures an unbiased review when we develop exchanges, platforms, or tools. We strive to provide timely updates on everything crypto & blockchain, from startups to industry executives.
Investment Disclaimer:
All opinions and information shared represent the author’s opinion on market conditions. Please do your own research before making any financial decisions. Neither the author nor the publisher is responsible for your financial decisions.
Offers and Promotions:
Sponsored content and affiliate links can be viewed on our website. Advertisements are clearly identifiable, and our content is not independent of our advertisers.
Read the Next Article
