- Aerodrome Finance has dropped 14%, hovering at $1.
- Daily trading volume of AERO has jumped 85%.
The bulls are popping up at certain intervals, but the bears have been settled in the crypto market. This has resulted in conflicting signals, and both the red and green flags are currently waving across the assets. Notably, Bitcoin and Ethereum trade at around $103.4K and $3.5K, while Aerodrome Finance (AERO) has registered a steady drop of over 14.48%.
AERO has chosen to trade at a higher bracket of $1.27, in the morning hours. With the potential bears taking control the asset, the price has retraced toward a downside zone of $0.9549. The gradual and solid recovery may likely push the asset’s price upward, only with the sturdy bullish shift in the market.
The CoinMarketCap data has reported that at the time of writing, Aerodrome Finance traded at around the $1.01 mark, with its market cap staying at $913.55 million. Moreover, the daily trading volume of AERO has surged by over 85.11%, touching the $264.05 million range.
Is AERO Heading for a Drop — and How Far?
With the bearish pressure, Aerodrome Finance might push the price down toward the $0.9991 support level. If the downside correction intensifies, it could trigger the emergence of the golden cross and eventually take the price to its recent low at the $0.9980 range or further lower.
On the upside, assuming the bulls reappear, they could counter the bears for a possible upward reversal. The Aerodrome Finance price would climb and find the resistance at $1.11. An extended bullish pressure might push the golden cross to take place, sending the price to $1.25.
Aerodrome Finance’s Moving Average Convergence Divergence (MACD) line has crossed below the signal line. It likely hints at a bearish crossover and the possibility of a price decline if the trend continues. Besides, the Chaikin Money Flow (CMF) indicator found at -0.14 points out the selling pressure in the AERO market. The capital is flowing out of the asset, and the closer it gets to -1, the stronger the selling momentum.
The daily Relative Strength Index (RSI) of Aerodrome Finance at 43.65 indicates its neutral to slightly bearish phase. A move below 40 signals a growing bear run, while a rebound above 50 may renew the buying momentum. In addition, AERO’s Bull Bear Power (BBP) reading of -0.1701 suggests that the bears currently hold the power in the market. If it continues to drop further below zero, it could confirm a sustained downward trend.
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