• AERO is trading at $1.28, showing a slight decline in the last 24 hours with reduced trading volume.
• Despite recent declines, AERO has risen 15.72% over the last week, signaling potential future growth.
• RSI at 62.11 and MACD suggest AERO’s bullish momentum may slow, but long-term growth potential remains strong.

Aerodrome Finance (AERO) is currently trading at $1.28, representing a 3.68% decline in the past 24 hours. The volume of trading has decreased by 32.09% and is currently at $98.52 million. This suggests a short-term bearish market sentiment. 

Source: CoinMarketCap

However, having decreased recently, AERO has still shown a rise in its price by 15.72% over the last seven days, which is a positive change and a signal of possible future returns.

AERO Breakout Potential and Key Price Levels

Crypto analyst Altcoinpedia highlighted that AERO has the potential to break out. He opines that the range between $1.26 and $1.32 is a powerful entry zone for traders. If the AERO experience continues to decline, investors view the $1.09 and $1.00 demand levels as crucial buying points.

Long-term investors consider these important price regions as prospects. A further dip will give traders an opportunity to buy AERO at even cheaper levels. Those interested in capitalizing on the future growth opportunities of AERO view the move as a positive initiative.

Source: X

Also Read: Ethereum Eyes New All-Time High After $1.62 Billion Institutional ETH Purchase

RSI and MACD Indicate Neutral Momentum

AERO’s RSI (Relative Strength Index) value of 62.11 suggests that the asset is at a neutral level. In recent times, the RSI was approaching a high of 66.87, which suggests that the market is overbought.

It suggests that there is potential for growth at a specific level; however, it is important to exercise caution. Traders will closely monitor the RSI, as it signals a potential reversal or a positive target.

The Moving Average Convergence Divergence (MACD) suggests a decrease in bullish activity. The MACD line has a value of 0.13756, while the signal line has a value of 0.11602. The fact that the gap between the two lines is narrow is an indication that the bullish trend is becoming weak. The histogram, a measurement of the difference between the MACD indicator and the signal line, has turned red.

Source: TradingView

Open Interest and Volume Fall, Funding Rate Remains Stable

According to CoinGlass data, the trading volume of cryptocurrency has dropped by 28.86% to the current level of $115.45 million. The open interest also declined by 3.64 percent, down to $86.38 million. The OI-weighted funding rate is currently at 0.0041%, suggesting that the market is not experiencing excessive volatility and that the rate is stable.

Source: CoinGlass

The short-range downfall of the token does not cover its long-range potential. Technical indicators show that the current bull trend may reverse gradually, yet technically it will be a powerful asset in future growth. 

Also Read: Chainlink Price Surge: LINK Eyes $38 as Analysts Predict Bullish Breakout