Aerodynamic Finance (AERO) is back on traders watchlists after staging a sharp recovery over the last 24 hours. The rally came shortly after the token faced heavy rejection around the $0.72–$0.82 imbalance zone after a day of bearish correction.
Instead of extending its decline, buyers stepped back in and drove AEROs price up by 12%, shifting short-term momentum back in favor of the bulls. These bullish advances were not only driven by spot buying, but also derivatives data. This could be evidence of growing confidence among traders.
Source: TradingViewFutures market turns bullish
Besides the bullish technical set up and indicator, the networks Open Interest rose by double digits over the past 24 hours, showing that fresh capital has been entering the market rather than existing positions simply rotating. At the time of writing, the total Open Market exposure amounted to $38 million after an 11% spike.
Source: Santiment
At the same time, long positions seemed to be making up around 65% of total market exposure. The spike suggested that most traders have been positioning themselves for further upside, instead of another pullback.
Source: CoinalyzeWhales are adding to the momentum
As far as the token‘s holders’ sentiment is concerned, the networks whales have been making strategic moves across both Spot and Futures markets. In fact, according to the recent Futures Average order size data, AERO whales were bagging more orders at the press time trading price. This hinted at stronger conviction behind the trend.
This development does not guarantee a rally continuation. However, it does indicate that market sentiment has improved more so as it coincides with the recent rejection.
Source: CryptoQuantCan AERO reach the next imbalance zone？
The next point of interest among AERO bulls sits at around the $0.95 imbalance zone. If buyers continue defending the recent breakout and Open Interest keeps rising without a sharp increase in liquidations, AERO could have enough momentum to challenge that level.
However, failure to hold recent gains may invite another wave of selling from traders looking to lock in profits.
Final Summary
- AEROs price surged by 12% over the past 24 hours after bouncing from a key zone of demand.
- Networks Open Interest recorded a significant spike, with its long positions now accounting for 65% of Futures exposure.