Aerodrome Finance Surges 14.78% as Bitcoin Consolidates Near $104,000

Bitcoin is currently trading at around $103,741, close to the $104,000 support level. The daily chart reveals a consolidation phase that could determine the next major move. The technical picture shows Bitcoin at a crucial inflection point, but still neutral to bearish based on the overall pattern of lower highs since May. The Average Directional Index (ADX) confirms the pattern, sitting at 16 points in a “No Trend” zone, indicating a consolidation phase instead of strong directional momentum. The Relative Strength Index (RSI) hovers at 45, placing Bitcoin in neutral territory. The 50-day and 200-day Exponential Moving Averages (EMAs) both show a long signal with the golden cross pattern still intact, supporting the longer-term bullish structure.

Key technical levels to monitor for Bitcoin include immediate resistance at $106,500, major resistance at $108,800-$110,000, and critical resistance at $112,000. Immediate support is at $102,000-$103,000, major support at $100,000, and critical support at $93,200.

While Bitcoin consolidates and most altcoins bleed, Aerodrome Finance, which trades as AERO, is today’s brightest star, surging more than 80% in June and 14.78% today, to its current price of $0.8379. Aerodrome markets itself as “the central trading and liquidity marketplace” on Coinbase’s Ethereum layer-2 network Base. Late last week, Aerodrome Finance announced that its DEX is going to be integrating “directly” into the main Coinbase app, which means Aerodrome will soon gain exposure to Coinbase’s 10.8 million monthly active users. The daily chart for AERO confirms exceptionally strong bullish momentum, with the price decisively breaking above the critical $0.78 resistance level on substantial volume. The ADX reading of 30 with a long trend signal indicates moderate to strong trend strength developing. The RSI sits at 65.96—bullish without reaching overbought territory above 70. The 50-day EMA is going upwards looking to cross over the 200-period EMA to produce a golden cross.

Key technical targets and levels for AERO include immediate resistance at $0.88, major resistance at $1.30, and an extended target at $1.40-$1.60 if momentum continues. Support levels include $0.70, next support at $0.66, and critical support at $0.55.

Despite the short-term volatility, institutional support for crypto remains robust with U.S.-based ETFs having sustained net inflows during the last two weeks, and BlackRock's iShares Bitcoin Trust rapidly surpassing the $70 billion mark in assets under management. The Crypto Fear & Greed Index sits near 65, reflecting neutral-to-bullish sentiment that supports dip accumulation rather than panic exits. Recent geopolitical tensions involving the Israel-Iran conflict, the potential involvement of the United States in the war, and $1.2 billion in leveraged liquidations have created market turbulence. However, the global cryptocurrency market isn’t doing much right now, sitting at around a $3.25 trillion market cap and pretty much flat in the past 24 hours. But that might be welcome news for the crypto investors who already suffered heavy losses earlier this week. Plus, if we zoom out, total crypto market capitalization is up for the year, gaining roughly $500 million in the last three months.