What to know:
- AERO price stays bullish as analysts target the $0.65 resistance for a potential breakout despite market volatility.
- Aerodrome’s PGF bought and locked 87,000 AERO tokens, reducing supply through its buyback strategy.
- Analysts warn AERO may see a short-term pullback if selling pressure increases near the $0.65 resistance.
Aerodrome continued to show bullish momentum as analysts watched a key resistance area that could shape the next move for the AERO price. However, ongoing market volatility may trigger a short-term pullback. Meanwhile, the project’s buyback and token-locking strategy reinforced its long-term commitment to ecosystem growth and stronger tokenomics.
At the time of writing, AERO is trading at $0.5112 with a 24-hour trading volume of $25.65 million and a market capitalization of $493.37 million. Despite the 2.85% loss over the last 24 hours, the AERO price structure and buyback program point to a bullish reversal ahead.
Source: CoinMarketCap
Also Read: Aerodrome Finance (AERO) Price Rebounds From Key Support, Eyes $0.525
AERO Price Sets Sights on $0.65 Breakout
According to the crypto analyst Sjuul, the AERO price has continued to outperform much of the cryptocurrency market, with bullish momentum keeping traders optimistic about further upside.
Technical analysts are now watching the $0.65 level, where a liquidity pool around previous equal highs has become the next major target. Reaching this zone could mark an important test for the token’s ongoing rally.
Source: Sjuul’s X Post
Even with all these positive indicators, there have been some analysts who note that the entire crypto market is still highly volatile.
With the AERO price getting close to the resistance area of $0.65, there is a possibility that there will be rejection. The AERO price action near this technical level will determine the future of this coin.
Aerodrome PGF Locks 87K AERO in Latest Buyback
The data from Aerodrome further highlighted that the Aerodrome Public Goods Fund (PGF) has secured 87,000 more AERO tokens due to its ongoing market-savvy buyback strategy.
The strategy intends to build up tokens in an organized and adaptive fashion around the market movements in order to fulfill the protocol’s commitment to sustainable growth of its ecosystem.
Source: Aerodrome’s X Post
The Public Goods Fund, since its inception, has collected almost 50 million AERO tokens, and that gives an idea about how comprehensive their treasury strategy is.
The token buybacks and lock-ups reduce supply and support the Aerodrome ecosystem, and continuous acquisitions reflect their commitment to building sustainable value for the ecosystem.
Despite the bullish price predictions and buyback program, the AERO price is still moving in a downward direction. However, the general trend in the crypto market is turning positive due to BTC’s upward movement, and the next AERO movements could decide its future.
What Happens Next?
For the AERO price, its future depends on being able to break above the vital $0.65 resistance level. The breakout would enable it to move higher, and any failure could lead to some short covering. In addition, traders are also going to be watching how the buyback program by Aerodrome is progressing.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: AERO Price Breakout Signals Bullish Continuation as Price Targets $1.58 Rally
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