As the crypto market bleeding paused in the past hours, Aero advanced bullish and broke out to a new monthly high following over 20% surges since yesterday.
Resurging from a month retracement earlier this month, Aero resumed buying and continued to show signs of strength daily. It reclaimed the previous resistance level on Monday, but failed to break through due to a rejection.
This led to a major drop the following da,y and the price closed strongly bearish. The crypto resurged yesterday and exploded with a strong close above the previous daily high. It reiterated actions today and broke out to a new monthly high at the moment, although a rejection may occur.
The breakout confirms a new bullish pattern in the form of a double-bottom. As we can see on the daily chart, the bulls are back in action, and are now eyeing the key $1 level, considered as the February high.
A breakthrough that level could facilitate bigger gains in the future. On the other hand, rejecting it could cause a pause in the latest surge. If that happens, Aero may undergo a short pullback before rising back.
Considering the latest breakout, the bulls will likely sustain the pressure for a while before reaching an exhaustion point. There are currently no signs of the bears at the moment. If they return, they must reclaim the $0.3 level before considering a full market dominance in the mid-term.
AERO’s Key Levels To Watch
Source: Tradingview
Approaching $1, the next resistance level to watch for a test is $1.22. If Aero overcomes these price levels, $1.5 and $2 are higher resistance levels to consider for buying.
The recently broken $0.8 resistance is now held as support. If the price pulls below it, Aero may retest the $0.66 and $0.56 levels before rising back.
Key Resistance Levels: $1, $1.22, $1.5
Key Support Levels: $0.8, $0.66, $0.56
- Spot Price: $0.95
- Trend: Bullish
- Volatility: High
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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