Technical Analysis

Aerodrome Finance (Aero) price prediction: Is $0.41-$0.55 the key accumulation zone?

Updated: Aug 27, 2024

Published: Aug 14, 2024

Despite the pullback, Aero remains a dominant base-leading DEX in the market. This recent pullback aligns with the market-wide correction, and we believe that Aero represents a solid, undervalued asset at this time.

Identified price points

Accumulation Zone: 0.4100- 0.5500

From a charting perspective, we've identified the price range between 0.4100 and 0.5500 as a solid area to consider building a position in Aero, based on the current market context.

Historical context

March Surge: This price range was pivotal back in March, leading to a 300% move to the highs.
July Rebound: The same zone saw price bounce back after the sell-off in July.
Recent Activity: Last week's candle displayed buying pressure with a top-heavy doji, indicating continued demand in this area.

Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.

Market context

The overall market is currently experiencing low volume, and given these conditions, we're taking a zoomed-out, relaxed approach to understanding the broader context.

Accumulation strategy

DCA or Position Building: Dollar-Cost Averaging (DCA) or building positions within this price region is a viable strategy.
Key Accumulation Zones: ○ 0.5500 ○ 0.4100