Aerodrome Finance on Edge: Can AERO Regain Altitude or Fall Deeper Into Trouble on the Charts?

• Aerodrome Finance is currently hovering around $1.17.
• AERO’s daily trading volume has surged by over 20%.

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

How High Can Aerodrome Finance Price Go?

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

*AERO chart (Source: TradingView)*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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