AERO surges 39%, nears $2 resistance level
**The Essentials at a Glance:**
Aerodrome Finance (AERO) has seen a price increase of 39% over the past week. The price is approaching the psychologically significant $2 mark but is encountering resistance. Short-term pullbacks are possible, while the long-term bullish structure remains intact.
Current Price Development of Aerodrome Finance
Aerodrome Finance (AERO) has shown a clear upward movement since September. The price broke through the $0.75 mark on September 18, turning the market structure bullish. Since then, the positive trend has continued. Notably, in November, AERO overcame the resistance zone between $1.3 and $1.5, accompanied by a rise in trading volume.
Currently, the price stands at around $2, an important resistance level. This zone is not only psychologically significant but also served as a selling area back in March. A breakthrough could pave the way for further price gains, though short-term pullbacks cannot be ruled out.
Overview of Technical Indicators
The technical indicators point to strong demand. The On-Balance Volume (OBV) indicator, which measures trading volume, is at a two-month high. This shows that buying activity has increased in recent weeks.
The Relative Strength Index (RSI) is at 76, signaling an overbought market condition. This could indicate an impending correction, as the market appears overheated in the short term.
Liquidity Zones and Potential Price Movements
The analysis of liquidity zones shows a cluster around $1.4, ranging from $1.34 to $1.52. This zone overlaps with a bullish support area, suggesting that a pullback to this region is possible.
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On a short-term level, $1.8 and $2 are key magnetic zones that the price could gravitate toward. However, if the price falls below $1.72, it could signal a deeper correction into the $1.34 to $1.52 range.
Long-Term Perspective
Despite short-term uncertainties, the long-term structure of Aerodrome Finance remains bullish. The rise in trading volume and strong support zones indicate that buyers remain active. A breakthrough above the $2 mark could initiate the next upward trend.
Our Assessment
Aerodrome Finance is showing strong price performance, supported by solid technical indicators. However, investors should account for short-term pullbacks, especially given the overbought market condition. In the long term, AERO remains a promising candidate, particularly if the $2 mark is sustainably surpassed.
Sources:
– Coinglass
– TradingView
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