This DEX exchange Token may rise to the sky in the near future.

Aerodrome Finance (AERO) recorded a gain of over 4% in Friday's trading session, strongly bouncing off the 50-day exponential moving average (EMA).

The technical indicators along with derivative data continue to maintain a positive outlook, opening up the possibility that AERO will continue its upward trend and achieve impressive profit levels in the near future.

Optimism Surges in the AERO Derivatives Market

Data from CoinGlass shows that the open contract (OI) of AERO has increased by more than 10% in just 24 hours, reaching 85.92 million USD. This influx of capital, boosting the activities of AERO futures and options positions, clearly reflects the strong "risk-on" sentiment spreading throughout the derivatives trading community.

At the same time, the funding rate has shifted to a positive level of 0.0116%, from a negative level of -0.0026% at the start of the day, indicating that the bulls are in control. Bullish investors are willing to pay the spread fee to adjust the swap price and the spot price, reinforcing the positive trend in the AERO market.

Aerodrome Finance derivatives data | Source: Coinglass## Aerodrome Finance is poised for a breakout, targeting key resistance levels

On Friday's trading session, AERO recorded an increase of over 4%, holding above the 61.8% Fibonacci retracement level, determined from the high of $2.33 on December 12 to the low of $0.28 on April 7, currently at $1.04. The recovery momentum is aiming towards the 78.6% Fibonacci retracement level at $1.48, with the 50-day EMA acting as a dynamic support, facilitating the continuation of the upward trend.

AERO/USDT Daily Chart | Source: TradingViewTechnical indicators on the daily chart show a marked change in market momentum. The MACD indicator displays a weakening downward trend through the histogram bars, while the MACD line crossing above the signal line may be seen as a buy signal by investors on the sidelines, reinforcing the bullish outlook.

The RSI index remains around the level of 50, in a neutral state. If the RSI surpasses the neutral level, this will confirm an upward trend and open up further growth potential.

On the contrary, if AERO reverses and breaks the 50-day EMA at 1.10 USD, the downtrend could extend down to the 100-day EMA around 0.97 USD.

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