Bittime – Aura Finance (AURA) has shown a bearish trend on higher time frames, despite a recent price spike. The increase in doorman activity indicators is causing concern among long-term holders.
AURA Finance Price Increases 26%
In the last two days, AURA has seen a price increase of 26%, accompanied by an increase in buying volume and a shift towards bullish momentum on the daily chart. This spike coincided with a strong upward movement in the price of Bitcoin (BTC).
However, technical analysis shows that AURA's long-term trend remains bearish.
On-chain metrics also raise doubts about the sustainability of this rally. The key question remains:
Can AURA maintain its recent upward trajectory?
Aura Finance Market Analysis
On the daily time frame, AURA has consistently formed lower tops since mid-March.
The significant drop below $0.68 in March confirmed the bearish structure. Despite the recent rise in the Relative Strength Index (RSI) above the neutral 50 mark, indicating bullish momentum, the overall trend appears to be continuing downwards.
AURA to USDT | Analysis by AMBCrypto | TradingView
Key resistance levels were identified at the Fibonacci retracement levels of $0.83 and $0.90, which are expected to challenge the bulls.
Additionally, the $0.85-$0.88 range has historically acted as a strong resistance zone.
Although On-Balance Volume (OBV) has increased over the past week, it has not reached the peak seen in April, indicating that although buying pressure exists, it may not be enough to sustain the long-term uptrend.
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Potential Selling Pressure
Analysis by AMBCrypto
On-chain metrics provide further evidence of the bearish outlook for Aura Finance. Despite consistent network growth over the past two months, the number of unique addresses created daily has remained below 20 since February, a worrying sign for long-term investors.
During the nearly 30% rally over the past two days, there was a significant spike in inactive circulation, the largest in three months. This spike indicates a potential increase in selling pressure following a short-term price bounce.
Additionally, weighted sentiment has been negative over the past month, indicating limited bullish strength.
Conclusion
Aura Finance has experienced striking short-term gains, but the long-term bearish trend and on-chain metrics suggest caution. The market structure and resistance levels indicate the potential challenges that AURA will face. Investors should remain vigilant and consider the broader market context and underlying metrics before making investment decisions.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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