Aergo Breakout Analysis – AERGO Pumps +57% in a Single Day

Aergo just pumped up to +57% in a single day with a strong breakout on Binance & other Exchanges. Let’s take a quick look at the AERGO price analysis and possible reasons for the recent breakout.

What is AERGO?

Aergo describes itself as an open-source enterprise blockchain platform optimized for hybrid deployments, which consist of both permissioned and permissionless blockchain architectures. It includes support for SQL allowing for easy data handling and familiar smart contract programming for developers.

AERGO Quick Stats

SYMBOL:	AERGO
Global rank:	436
Market cap:	$22,972,181 AUD
Current price:	$0.0840 AUD
All time high price:	$0.6919 AUD
1 day:	+57.25%
7 day:	+63.95%
1 year:	+189.67%

AERGO Price Analysis

At the time of writing, AERGO is ranked 436th cryptocurrency globally and the current price is $0.0840 AUD. This is a +63.95% increase since 27th December 2020 (7 days ago) as shown in the chart below.

If we see the above 4-hour candle chart, AERGO did a strong breakout from the falling wedge pattern while trading sideways from the last few days & is now heading towards its major resistance of the month. After BTC made a new all-time high in its price and Altcoins are also rising in a bullish trend, AERGO looks well-positioned to hit the next high price levels.

“The Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge.”

What do the technical indicators say?

The AERGO TradingView indicators (on the 1 day) mainly indicate AERGO as a buy, except the Oscillators which indicate AERGO as a neutral.

So Why did AERGO Breakout?

The recent rise in Bitcoin over 100% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout. Another reason for this sudden pump in price could be the whales secretly buying AERGO for the next Altcoins rally & it could also be contributed to some of the recent news of Aergo Research Project.

ICYMI: BLOCKO has won a 4 year research project with NIPA, an IT industry promotion organization operated by the Government of South Korea. They will use AERGO SDK to evaluate the role of blockchain in a rewards model in energy consumption and conservation. $AERGO#AI #bigdata pic.twitter.com/RPAoiFMKlQ

— DesignBlock (@joselitommutuc) December 15, 2020

Recent AERGO News & Events:

• 29 October 2020 – Binance Chinese AMA
• 31 October 2020 – Newsletter #12
• 31 December 2020 – Aergo Hub MVP

Where to Buy or Trade AERGO?

AERGO has the highest liquidity on Binance Exchange so that would help for trading AERGO/BTC or AERGO/ETH pairs. However, if you’re just looking at buying some quick and hodling then Swyftx Exchange is a popular choice in Australia.