• Technical indicators support a bullish bias with RSI at 70.15 and MACD showing positive momentum above the signal line.

The Aerodrome Finance (AERO) is exhibiting strong bullish signs on the daily technical chart, which implies that it might continue its recent positive trend in upcoming sessions. The altcoin has shown an impressive ability to recover following its tests of key support areas, and now it is forming a distinct higher high formation that shows the development of increasing buyer pressure.

The moving average setup is also a very bullish one. The price broke above the 50-day EMA of $0.63495 and the 200-day EMA of $0.75742, which is normally seen as a sign of a long-term upwards trend. The current price is trading above both moving averages, which further supports the positive near-term performance of AERO.

The price action shows that AERO has managed to rebound off its support area of about $0.28069 in April and is currently testing resistance areas of about $1.00. The fact that higher highs and higher lows are being formed during the current recovery period shows that buyers are in control and they are ready to pay increasingly higher prices. This change in structure with the earlier downtrend indicates that a possible bullish rally is in progress.

Moreover, according to CoinMarketCap data, at the time of writing, AERO price is trading at $0.953 with an intraday surge of 17%, indicating extreme bullishness. The daily trading volume has surged by 50%, currently at $152.95 million, suggesting buying momentum.

What’s Next For Aerodrome Finance (AERO) Price?

Bullish bias is further confirmed by technical indicators. RSI is at 70.15, which is in the bullish zone, demonstrating positive momentum. This shows that there is potential for additional price appreciation towards the $1.5 and $2.00 levels. The MACD histogram indicates that positive momentum is increasing, and the MACD line is above the signal line and the zero line, which indicates bullish momentum.

The technical picture is also supported by social sentiment indicators, which have recently been registering a better perception of the market. The technical breakout patterns, positive moving average alignment, and supportive momentum indicators all point to the possibility of AERO continuing to rise.

Nevertheless, traders are advised to watch the most important resistance point at $1.00, because a strong move above this point may clear the way to the previous highs around $2.00. Risk management is also important, and the 200-day EMA can be used as a possible dynamic support in case of pullbacks.

Highlighted Crypto News Today:

‌Raydium (RAY) Rockets 9%: Bullish Burst or Brief Hype?

(责任编辑：ipos)