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AERGO’S 30% surge stuns the market – But will profit takers spoil the party?
AMBCrypto News
AERGO could be set for further appreciation if the momentum is maintained.
May 4, 2025 | Lennox Gitonga
In a surprising turn of events, AERGO has seen a whopping 30% price surge over the past day. The sudden rise has raised eyebrows across the crypto space, leaving many wondering whether profit takers will intervene and spoil the party.
The asset’s explosive growth coincided with an unprecedented spike in trading volume, with $363 million worth of transactions executed within the last 24 hours, according to CoinMarketCap data. This level of activity is typically associated with a large number of traders entering the market.
Upon closer inspection, it becomes clear that AERGO has broken out of its one-week declining wedge pattern, leaving no doubt that this sudden surge is a result of intense buying pressure. If the momentum continues, there is a possibility for further appreciation.
The chart analysis reveals that if AERGO can maintain its current trajectory and close above $0.211, it could pave the way for a move towards $0.25, eventually reaching as high as $0.50, which would establish a new all-time high.
However, investors must be cautious of potential profit takers emerging in the market to capitalize on the sudden gains. This phenomenon has occurred numerous times before, particularly with assets that exhibit such explosive growth.
Furthermore, the 4-hour chart indicates a bullish crossover and strong positive readings from the MACD indicator, further validating this upward momentum.
A closer look at liquidity data reveals $198.10K worth of liquidations between $0.21 to $0.22, signifying an elevated concentration of leverage in that zone. As AERGO approaches this region, it could potentially trigger a wave of short position liquidation, leading to further price appreciation.
On the flip side, if prices drop below $0.20, long-side liquidations might begin, pushing the asset towards the $0.18 level.
It is essential for investors to remain vigilant and closely monitor market developments to gauge whether profit takers will intervene or if this upward trend will continue uninterrupted.
As we delve deeper into the AERGO Spot Inflow/Outflow chart, it becomes apparent that the recent data indicates a strong positive net flow, exceeding inflows by over $400K. This accumulation behavior denotes growing market momentum at the $0.20 level and could lead to further price growth if maintained.
On the other hand, if this surge is met with an influx of inflows into exchanges, it may signal profit-taking activity.
With that being said, only time will tell whether AERGO’s explosive 30% gain is a flash in the pan or the start of something more substantial.
Source: https://ambcrypto.com/aergos-30-surge-stuns-the-market-but-will-profit-takers-spoil-the-party/
