With the bulls resting aside, the bears often appear but tenuously ignite the mixed sentiment across the crypto assets. The market cap has settled at around $3.81 trillion. The largest assets, like Bitcoin and Ethereum, trade on the downside. Among the altcoins, Aerodrome Finance (AERO) has posted a drop of over 0.21% in the past 24 hours.
AERO opened the day trading at a high range of $1.24. Gradually, with the command of the bears, the asset plunged toward a low of $1.16. If the bears stay for a longer period, the price may see more downside, pulling back to its former lows.
As per CoinMarketCap data, at the time of writing, Aerodrome Finance traded within the $1.17 zone, with its market cap reaching over $1.04 billion. Besides, the daily trading volume has increased by over 20.60% to the $79.39 million mark.
Zooming in on the thirty-day price chart, AERO has recorded a surge of over 54%. The asset began trading at around $0.73, and the bullish pressure took the Aerodrome Finance price up to a monthly high of $1.54.
Aerodrome Finance’s Moving Average Convergence Divergence (MACD) line is above the signal line, which is considered a bullish sign. It would also confirm the strength of the trend if it stays stronger. Additionally, the Chaikin Money Flow (CMF) indicator, positioned at -0.03, implies that a slight selling pressure is present in the market. With the negative value, the money is flowing out of the asset.
Assuming the asset’s bulls gain enough strength to push the price up, it could test the nearest resistance range at $1.22. With the prolonged upside correction, Aerodrome Finance might trigger the golden cross to take place, and send the price toward $1.27 or higher.
Contrarily, if the bears stepped in, the asset’s price might encounter multiple support zones. Aerodrome Finance’s initial support may be found at $1.12. An extended downside correction could push the death cross to unfold and drive the price below the $1.07 mark.
Moreover, the daily Relative Strength Index (RSI) is positioned at 54.56, indicating that AERO is in a neutral zone. The balanced momentum delivers no strong bullish or bearish pressure in the market. Aerodrome Finance’s Bull Bear Power (BBP) reading settled at 0.0285, suggesting a mild bullish dominance, hinting at upward momentum, but the strength is not overwhelming.
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