- Aurora exploded to $0.05 attracting massive trading volume above $70 million.
- Potential for recovery above $0.20 is still intact with the RSI and MACD positively in line.
Aurora, the cryptocurrency associated with “a decentralized application platform based on third-generation blockchain technology dedicated to providing mature blockchain technology solutions for the entire industry” on Monday exploded into massive gains of more than 1,000% in less than 24 hours. Its exchanged reported trading volume shot up hitting highs above $70 million according to the data by CoinMarketCap. Similarly, Aurora’s market cap surged from $23 million recorded on July 12 to $98 million at the time of writing. This elevated it to the 79th position in the market.
Meanwhile, Aurora is trading at $0.01660 following a retreat from $0.0500 (all-time high). According to the AOA/USDT trading pair on KuCoin exchange, Aurora is targeting a comeback above $0.02. The price is holding comfortably above the moving averages; with the 50 EMA at $0.0088 and the 100 EMA at $0.0066 in line to offer support.
AOA/USDT 1-hour chart
From a different technical perspective, Aurora is still poised for more action. The RSI is almost hitting levels above the overbought. This follows a recovery after exploring areas under 60. The same bullish momentum is reinforced by the MACD as it grinds horizontally at +0.0023. A bullish divergence from the MACD hints that Aurora has the potential to take down the seller congestion at $0.02. On the downside, support is envisioned at $0.01 as well as the above-mentioned moving averages.