AERO rebounded quickly after falling to $0.42, rising as high as $0.499 during the session before trading around $0.493, a daily gain of approximately 14%. This rebound was accompanied by increased spot buying and a return of funds to the contract market, with the market now focusing on whether it can hold above $0.50.
Spot buying has regained dominance.
According to Coinalyze data, AERO spot buying volume was approximately 23.3 million and selling volume was approximately 20 million over the past three days, with the buy-sell spread turning positive, indicating that buyers have regained the initiative.
CryptoQuant's average order size data shows an increase in order activity from smaller whale accounts. The report suggests that this continued influx of such funds is one of the key drivers behind AERO's recent rebound.
The contract market is heating up in tandem.
CoinGlass data shows that AERO open interest increased by 24% to $50 million, while derivatives trading volume increased by 29% to $74 million. The simultaneous rise in both open interest and trading volume typically indicates increased market participation and capital inflows.
- Open interest is approximately $50 million.
- Derivatives trading volume was approximately $74 million.
- The overall long/short ratio rose to 1.03.
The long/short ratio also rose, with the OKX platform's ratio reaching 5, reflecting a significant increase in long positions and a short-term bullish sentiment.
$0.50 becomes the short-term focus
From a price perspective, AERO has regained its position above the 200-day moving average. The article also mentions that its Relative Strength Index (RSI) has risen to 67, indicating that the current trend is still dominated by buying.
If spot demand and large-scale account buying continue, AERO may attempt to reach $0.50 and retest the $0.55 area where it previously encountered resistance.
However, if short-term funds take profits at the current price level, the price may fall back. The next support level given in the article is around $0.40.
