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Aergo Price Soars Over 480% In a Month - Bulls Target $0.55 Mark

Highlights:

  • Aergo price spikes 20% to $0.4355 as bullish momentum bolsters. 
  • Crypto analyst says Aergo price has exploded 670% since April 8, after the DAXA alert.
  • Technical indicators signal overbought conditions, suggesting a potential pullback to $0.13.

The Aergo price upholds a splendid bullish muscle, rallying 20% to $0.4355. However, its daily trading volume has dropped 9%, indicating a recent fall in market activity. AERGO is now boasting a splendid 165% surge in a week and over 480% in a month, indicating intense growth.

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The recent rally has caused worry among investors, as others compared it to Mantra before the 90% drop. However, Dark2Bright, a crypto analyst, has said via X that ERGO has exploded +670% since April 8—right after the DAXA alert on April 9.

Despite getting delisted by Binance on March 21, AERGO is now trading at $0.4355. Can the Aergo Bulls sustain the momentum?

Aergo Price Outlook

The Aergo price has spiked, printing consecutive green candles in a parabolic curve, as the bullish momentum bolsters the daily chat outlook. It trades at $0.4355 per token, a +20% gain in the past 24 hours. A change in momentum is confirmed towards the upside as the 50-day MA (0.1002) and 200-day MA (01118) have been surpassed. 

Also, the price has sent through its parabolic curve, showing heightened bullishness. Strong buying interest has been behind the recent buying interest trend as bulls take the reins.

How High Can Aergo’s Price Go?

The Aergo price of $0.4355 indicates increased volatility and strong buying pressure. A chart pattern showing a steep uptrend with a parabolic curve looks like what we see here. It managed to break above the key $0.1118 resistance that halted it in the past. This is an important breakout; the previous resistance is the new support and could be the base for further price rise.

Aergo price
AERGO/USD 1-day chart: TradingView

The price action shows that the buyers were accumulating at this support zone at $0.1118 earlier, and then the breakout began. The uptrend can continue, and the next resistance target in the near term can reach $0.51, with the possibility of hitting $0.55 in the coming days.

AERGO Could Experience a Pull-Back

Currently, the bulls have the upper hand in the market. This is evident as the technical indicators, including the Moving Average Convergence Divergence (MACD) and RSI, flash bullish. However, if investors commence early profit booking with technical indicators pointing to overbought conditions, the Aergo price will drop. This will enable the bulls to sweep through liquidity before a substantial leg up.

From the above, the Relative Strength Index (RSI) is at 95.98, which shows that the price of Aergo is in the overbought area. This is a very bullish situation but also indicates the formation of a near-term consolidation or correction before a further leg up. This is a strong buying interest, as reflected in the RSI trendline. However, traders must be cautious of high overbought levels, which might generally bring about profit-taking and a short-term correction.

In such a case, early profiteering will cause a slight retracement to $0.3560. A breach below this level will cause a deeper correction toward the $0.2922, $0.2332, and $0.1375 support levels. This will allow the bulls to regroup and plan an upward trajectory in the market that could hit $0.55in the coming days.

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