152% Volume Blast: Is Aerodrome Finance (AERO) in Turbo Mode with Engines Roaring?

• Aerodrome Finance is currently trading around $1.
• AERO’s daily trading volume has surged by over 152%.

Following a bearish correction, the crypto assets have lost their recent gains. With a slip of 0.75%, the market cap has settled at $3.84 trillion. Bitcoin and Ethereum, the largest assets, trade within the previous price zones. Meanwhile, Aerodrome Finance (AERO) has noted a spike of over 0.46% in the past 24 hours

In the early hours, the asset was trading on the downside and visiting a daily low of $1.29. Upon breaking through its crucial resistance range between $1.33 and $1.40, the bulls took command and helped AERO to mount toward a high of $1.44. If the bulls stay alive, the price could see more gains

At the time of writing, Aerodrome Finance traded at around $1.35, with its market cap reaching over $1.2 billion. In addition, the daily trading volume has exploded by over 152%, resting at $356.37 million. Notably, in the last 24 hours, the market has witnessed a liquidation of $790.29K worth of AERO.

Will Aerodrome Finance’s Price Break New Ground?

If the Aerodrome Finance bulls gain strength, the price could move up and test the resistance at the $1.40 range. Upon forecasting a continuous upside correction, the asset might climb toward its recent high of $1.45. On the flip side, assuming the uptrend fails to hold, the asset’s price might have to face a series of support levels, the initial one at around $1.30. A further correction on the downside of AERO could trigger a fall below the $1.25 threshold

Moreover, the asset’s Moving Average Convergence Divergence (MACD) line staying above the signal line indicates that the upward momentum is lingering. Since both lines are settled above the zero line, the overall trend of AERO is positive but not strongly established yet

*AERO chart (Source: TradingView)*Notably, Aerodrome Finance’s Chaikin Money Flow (CMF) indicator, positioned at -0.25, suggests moderate selling pressure in the market. As it is below zero, the capital is flowing out of the asset rather than in. If it continues to fall, it would signal a strong bearish pressure.

AERO’s daily Relative Strength Index (RSI) is found at 55.29, which hints at the neutral to slightly bullish territory. It is far from overbought and oversold conditions, and there are no immediate extremes to catch. Besides, the Bull Bear Power (BBP) value of 0.0619 shows a slight bullish dominance over bears. However, as the value is close to zero, the strength of the trend is weak, and the market may shift either way.

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