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AERO Hits $1: Double Bottom Suggests a Bullish Trend Ahead

AERO hits critical support at $1. Double bottom suggests a bullish breakout ahead.

3 min 15 days ago

Highlights:

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AERO holds crucial $1 support, with double bottom indicating potential bullish reversal.

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Transaction volume remains high, showing strong interest in Aerodrome Finance despite market volatility.

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AERO could see over 100% upside if it breaks resistance; downside risks exist.

AERO Hits $1: Double Bottom Suggests a Bullish Trend Ahead

The market downturn has negatives impacted many altcoins, including Aerodrome Finance—AERO. Despite recent struggles, AERO still holds a key support level at $1. This level could trigger a bullish reversal. Technical indicators suggest a potential breakout, making AERO one to watch.

 

AERO's Price Trends: A Potential Bullish Shift

 

 

AERO has been stuck in a downward trend due to resistance. However, the $1 support has held strong. This psychological barrier keeps the bullish momentum alive. Recent price patterns show signs of a potential reversal, especially with a Dogecandle formation. 

 

The chart hints at a double bottom formation, a classic bullish signal. The RSI line also shows a bullish divergence, increasing the chances of a reversal. If AERO breaks through resistance at $1.264 and the 200-day EMA, the next target could be $1.35. 

 

Strong Transaction Volumes and Holder Growth Signal Potential

 

A successful breakout could push AERO toward its previous peak of $2.20, offering more than 100% upside potential. AERO’s transaction volume stands at $10 million, higher than many other decentralized exchange tokens. 

 

This shows strong market interest and solid investor confidence. Additionally, AERO has seen consistent growth in holders, despite market volatility. 

 

AERO’s market cap per active user is $75k, which is lower than competitors. This indicates room for significant growth. If AERO maintains support at $1, a bullish trend could be on the horizon.

 

 

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