Aerodrome Finance (AERO) price is once again garnering trader interest, hovering in the $0.065-$0.072 range, viewed as a possible buy zone amid an altcoin correction.
Rounded Bottom Formation as a Trend Shift Signal
The analysis of the Aerodrome Finance chart shows a larger bullish structure developing, where a rounded bottom has taken shape. This formation is often interpreted as a sign of an emerging uptrend over the longer term. After breaking out from this formation, AERO price has pulled back towards levels near the base of the prior breakout.
The current correction appears orderly, with the green zone representing the base of the last rally. The chart includes directional arrows suggesting a possible move lower into this box, potentially followed by a bounce towards previous highs.
Support and Resistance Levels for AERO
Current support is located near a previously tested resistance area. This zone represents where price consolidated before its last breakout and may now act as a foundation for buyers re-entering the market. On the upside, the major resistance level is marked by the previous high and serves as the next major objective if the price rebounds.
Price action between these levels will help confirm whether the bullish structure holds. Any breakdown below the green support could invalidate the pattern and lead to lower lows.
Short-term Correction, Long-term Trend Remains Positive
While the short-term structure leans bearish, the macro trend on the higher timeframes remains potentially bullish. The analyst points to a patient approach, waiting for the right entry near the green box rather than entering early. Market participants now await further movement to see if AERO price can stabilize and set up for another leg higher.
The price of Aerodrome Finance is at a critical juncture where further movements will dictate the current market trend. Traders' expectations focus on confirming support levels and the potential for further growth.
