The cryptocurrency AERO continues to decline in price, but the active investments from major players are generating interest in the market. Significant accumulation by whales and smart investors has been observed despite the price drop.
Price Trend of AERO
The AERO token has extended its losing streak, dropping 1.5% to $0.8920. This decline follows a weekly high of $0.98, but AERO remains over 200% higher than its April low of $0.2850.
Sharp Increase in Trading Volume
Aerodrome's trading volume surged to over $4 billion this week, significantly up from $2.6 billion the previous week. This increase reinforces Aerodrome's position as the largest decentralized exchange on the Base network.
Technical Analysis of AERO and Risks
Technical indicators show continued bullish sentiment for AERO. The token is trading above both its 50-day and 100-day Exponential Moving Averages. However, a rising wedge pattern suggests possible near-term declines if it breaks lower.
Despite the current price decline of AERO, the active accumulation by large investors and the rise in trading volumes indicate ongoing interest in this token. Investors monitoring technical analysis should remain cautious of potential risks associated with short-term fluctuations.
