Aero has experienced a solid rise, which brings the price of \ $ 1 closer. After a significant gathering, the Altcoin now oscillates just below the level of resistance at $ 0.85.
Despite this recent increase, it is always possible that the rally will continue, Aero has likely to see more gains in the near future if it provides key support levels.
Aerodrome investors should wait
The relative resistance index (RSI) for the aero is currently positioned above the neutral line, indicating that the optimistic momentum is still solid. This positive moment suggests that the feeling of the market remains favorable to the action of Aero prices. Although the RSI has not yet crossed the excessive area, it is a key factor that could support the upward trend for the moment.
As the RSI remains in the positive area, Aero always has room for the appreciation of prices. The absence of surachat conditions means that an inversion trigger is not imminent. Investors will closely monitor all the more upward signs of force, while Altcoin continues to get closer to the $ 1.00 psychological bar.
The liquidation card for Aero shows that short positions are currently dominating the market. Bears are at risk of more than $ 4 million in liquidations if Aero successfully reached the brand of $ 1. The high concentration of short -term contracts is obvious in the negative financing rate, indicating that many traders are betting against the increase in Altcoin prices.
Despite the domination of short positions, the market is vulnerable at a net price step. If Aero continues to increase and reaches the threshold of $ 1, it could trigger a wave of short liquidations, further accelerating the price rally.
The aero price could increase soon
Aero has jumped 75% since the beginning of the month and is currently negotiated at $ 0.84, just under the resistance at $ 0.85. Altcoin tries to secure this level as a support, which will be crucial to continue its upward trend. If this support is valid, Aero could see other price gains.
With the current bullish feeling, Aero plans to increase a potential $ 1.00 in the coming days, at 18%. A successful violation of the resistance of $ 0.85 will probably attract more investor entries, which leads to the price to the level of $ 1.00. The rally is supported by the impulse of the underlying market, which gives Aero a good chance to continue to increase.
However, if Aero fails to establish $ 0.85 as a solid level of support, it could face a sharp drop. A failure to maintain this key level could return the price to the support at $ 0.72, which would invalidate the current thesis. If this happens, Altcoin could see a reversal in its upward trend, resulting in potential losses for investors.
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