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The Aura price has soared 19,789% in the past week, despite a 7.6% decline in the past 24 hours, to trade at $0.1787 as of 5:41 a.m. EST on a 48% drop in trading volume to $23 million.
Does the AURA price plunge in the last day suggest it’s too late to buy, or can the crypto return to its parabolic trajectory?
AURA Price Flashes Bearish Rounded Top Pattern
The AURA/USDT chart shows that the meme coin has been riding a parabolic wave, breaking through key resistance levels on its upward trajectory. The 50-day moving average ($0.1989) currently acts as a dynamic resistance, suppressing the price.
Additionally, the chart shows what could be a rounded top pattern, which is a bearish reversal pattern. Is the AURA price rally done?
Price has been testing the 38.2% Fibonacci retracement level ($0.1571), which has held up well, forming decent support. That’s a solid sign that bulls are still in charge.
The recent high of $0.23 shows AURA has legs, but the current dip to $0.1787 suggests a breather, possibly due to profit-taking. Volume is down 78% in the last 24 hours, which is decent but not overwhelming. This could mean more room to run if the hype keeps pumping.
AURA/USDT Chart Analysis (Tradingview)
The Relative Strength Index (RSI) is at 44.94, a neutral zone. However, the purple line is generally headed down, a signal that selling pressure is on the rise.
This means the price might continue falling slowly until a key support is hit before AURA sees another leg up.
Is It Too Late To Buy AURA?
The chart indicates it’s not too late to buy the meme coin, but timing is everything. If the 38.2% Fib level breaks, the meme coin could tumble down to $0.07, representing a 56% decline from current levels. Conversely, if price moves above the previous all-time high ($0.2379) with volume, we could be eyeing $0.372 or higher.
Investors should also be cautious because the 19,789% weekly pump was driven by FOMO, and late entries can get “rekt” quickly. With such a meteoric rise, the risk of a correction looms large. Investors might want to wait for a dip to $0.15-$0.17 to catch a safer entry.
AURA has the potential to shine if the trend holds, but don’t overlook the risk.
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