Altcoin Opportunities

Aerodrome Finance (Aero) price prediction: Key $1 breakout

Updated: Sep 26, 2024

Published: Sep 25, 2024

We’ve broken a long-term trendline and retested it multiple times. If we reclaim the $1 mark with a solid move, there’s significant upside potential here.

Market context

Aerodrome Finance has been a key player responsible for significant liquidity and volume on its network. Despite losing a trade here previously, I’m keeping a close eye on this asset, especially as it potentially forms an inverted head and shoulders pattern.

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.

Playbook

Breakout trade: Watch for a breakout and reclaim of the $1 mark.
Potential move: Capturing a move from the current price to all-time highs could be highly rewarding, especially if we see volume return to the market.

Risk management

We will be able to strategize more clearly once we see demand shown at the $1 mark. The reason we have a conviction that we will get further bids here is due to the psychological relationship participants have with key, significant round numbers like the $1 mark. This is why we saw so much trading and key bounces there earlier in the year.