After explosive run, AURA retests support

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.

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• AURA has had a huge run higher from the lows, so this pullback should be expected, and it's healthy to see from a chart and a holder's distribution perspective.
• Firstly, this is just a 4-hour chart, but we're running off less Daily candle data, hence it's needed for us to zoom in to give a better analysis.
• Price has broken out of two downtrend lines, but it has continued to revisit its support at $0.116 to $0.120, having put in a resistance at $0.21.
• There is strong support below $0.116, should price break below it, at $0.075 and $0.092. If price does break below $0.116 (not our base case), then we expect a deviation move into $0.092 and for aggressive bidders to step in.
• Long-term, nothing has changed in the bigger structure, and we'll use deeper levels to scale in more aggressively.
• If price were to break above $0.21 (we expect it to eventually), then the short-term upside target is $0.35 to $0.40.

• Next Support: $0.116
• Next Resistance: $0.214
• Direction: Bullish
• Upside Target: $0.40
• Downside Target: $0.092

Cryptonary's take

Our expectation is that the chart has seen huge upside, and we now need to see a period of consolidation as Aura matures more. If price were to break below $0.116, then there are huge supports between $0.075 and $0.092, should price visit as low as that, although this is not our base case.

Our medium to long-term targets remain multi-billions, with our short-term price targets being between $0.35 and $0.40.

For those who are still sidelined or looking to add to their bags, we'd suggest bidding the support levels, with $0.116 being the major support level.