Aerodrome Finance prepares to lift off, targeting key resistance :
Aerodrom edges higher by over 4% so far on Friday, holding above the 61.8% Fibonacci retracement, drawn from the $2.33 high of December 12 to the $0.28 low from April 7, at $1.06. The recovery run targets the 78.6% Fibonacci retracement at $1.48 as the 50-day EMA provided dynamic support, increasing upside chances. The technical indicators on the daily chart signal a potential shift in trend momentum. The Moving Average Convergence Divergence (MACD) shows a declining intensity of the red histogram bars. Sidelined investors could consider the MACD crossing above its signal line as a buy signal, as it will confirm a bullish shift in trend momentum.
Additionally, the Relative Strength Index (RSI) at 50 on the same chart remains neutral. If the RSI edges above the halfway line, it will signal a bullish tilt with further room for growth.
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Aerodrome Finance prepares to lift off, targeting key resistance :
Aerodrom edges higher by over 4% so far on Friday, holding above the 61.8% Fibonacci retracement, drawn from the $2.33 high of December 12 to the $0.28 low from April 7, at $1.06. The recovery run targets the 78.6% Fibonacci retracement at $1.48 as the 50-day EMA provided dynamic support, increasing upside chances.
The technical indicators on the daily chart signal a potential shift in trend momentum. The Moving Average Convergence Divergence (MACD) shows a declining intensity of the red histogram bars. Sidelined investors could consider the MACD crossing above its signal line as a buy signal, as it will confirm a bullish shift in trend momentum.
Additionally, the Relative Strength Index (RSI) at 50 on the same chart remains neutral. If the RSI edges above the halfway line, it will signal a bullish tilt with further room for growth.
On the contrary, a potential reversal below the 50-day EMA at $1.10 could result in a drop to the 100-day EMA at $0.97.
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