Aerodrome Finance (AERO) experienced a 6.86% price drop as bearish sentiment dominated the market, following Bitcoin's recent correction. Bitcoin retraced nearly 9% from its early May high of $82,850, contributing to a muted altcoin market sentiment. The Altcoin Season Index fell to 31, reflecting the challenges faced by altcoins as market capitalization struggled to maintain above $1 trillion.
AERO's price action showed weakness, losing control of the $0.45 support zone. After a 77% rally from $0.31 to $0.55 in April and early May, AERO faced resistance at $0.44-$0.46, indicating potential further downside. The bearish structure on both daily and 4-hour charts suggests a possible decline to $0.384 and $0.345 unless a move above $0.55 occurs to invalidate the bearish outlook.
AERO Price Declines Amid Bitcoin Correction and Bearish Market Sentiment
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