Is this dip a trap or the beginning of a real flow? AERO fades with the rest of the altcoin market after the increase in BTC volatility, and according to industry sources, the enthusiasm for new listings is cooling off a bit. Today's selling pressure hit directly in the same area where buyers entered earlier this month, so things are getting exciting.
On the 4-hour chart, I am leaning towards a rise, but only after a deeper round. The price is sliding towards the dense green demand area around 0.30 where volume previously exploded, and the RSI is already heading towards the oversold area. My fundamental reading: further decline to that area, then a bounce towards the average red supply zone near 0.34 with new buyers emerging.
✅ Plan: I am monitoring the presence of a wick in the green box and recovering 4 hours as an incentive for me, targeting approximately 0.34 with tight risks hidden below the lower green belt. If the price cannot maintain this demand and we start closing 4-hour candles below it, I will change the strategy and look for short trades towards the next lower liquidity pocket. I might be wrong, but pulling back from strong demand areas in altcoins may have burned many traders for me to follow this short trade here.
