- AURORA crypto has given negative performance as compared to its token price.
- The inflation rate of the crypto is also very high.
Aurora seamlessly integrates Ethereum applications onto the NEAR blockchain, offering scalability while maintaining Ethereum’s development environment. Founded by CEO Alex Shevchenko, it simplifies Ethereum developer migration, supporting popular tools and leveraging NEAR’s Rainbow Bridge for asset transfers.
With a total supply of 999.948M AURORA the supply inflation of the crypto is 153.08% which is very high. This is further followed by a maximum supply of 1.0B AURORA.
The current circulating supply of the crypto is 44.03% of the maximum supply resulting in 440.344M AURORA. Also, the fully diluted market cap of the crypto is $331.326 Million.
The crypto further has witnessed an advance of 2.96% in the last 24 hours resulting in a market cap value of $145.842 Million. As per CoinMarketCap, the market cap ranking of the crypto is #376 in the global cryptocurrency market.
Following a volume/market cap ratio of 0.63% the trading volume of the crypto has witnessed a decline of 14.2% in the last 24 hours. This further results in a traded value of $894.1K.
The market cap dominance of the Aurora token is 0.01% and the circulating supply market cap of the crypto is $145.883 Million. Also, the crypto is highly volatile resulting in a volatility of 14.00%. Also, the sentiment of the crypto is neutral as per Coincodex.
Aurora Crypto Blockchain Data Overview
The stablecoin market cap of the crypto has subsequently declined while the stablecoin market cap of the crypto is maintaining its average. The fees in the crypto has further witnessed a huge surge.
Over the last 24 hours, the recorded fees for the crypto is $183 and the inflows for the crypto values $11.3K. Also, the stablecoin market cap of the crypto is $7.57 Million and the total raised amount by the crypto is $102 Million.
Supply Held Vs Price Of Aurora Crypto
The price of the crypto has witnessed a huge surge over the last few days while the supply held by top addresses in static. This indicates that new players are not gaining their interest in AURORA crypto.
AURORA Crypto Technical Analysis
The price of the crypto can be seen forming a double top and a lower high on the daily chart. Although the price of the crypto has started to decline, it is still trading above a very crucial support level of $0.220.
If the price of the AURORA crypto declined below the given crucial support, a strong decline in the price and a long-term bearish trend might be seen.
AURORA/USD Chart by TradingView
Forming bearish candlesticks on the daily chart of the crypto, the price has declined below the 50-day EMA. This further indicates that the price of the crypto might decline towards 200-day EMA. Although the EMAs are trading in a golden cross, the price falling below the 50-day EMA is not a good sign for buyers.
The MACD indicator further exhibits a bearish behavior as the MACD and the signal line are declining below the zero level. Also, the following metrics are trading in bearish cross followed by bearish histograms on the chart.
The RSI on the daily chart of the crypto has declined to 42.17 and the 14-day SMA is also sliding towards lower levels and is currently trading at 48.9. This further shows a decline in the momentum of the crypto price.
Summary
The AURORA crypto faces potential further lows as it forms lower highs and a double top pattern. Despite trading above a critical support level at $0.220, technical indicators signal bearish momentum. Bearish candlesticks, declining MACD, and RSI below 50 indicate a weakening price trend, possibly leading to long-term bearishness.
Technical Levels:
- Support Levels: $0.090 and $0.220
- Resistance Levels: $0.530 and $0.730
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.