Aeon Consolidation Mode

As per our previous idea, AeonĀ gone up and rejected the resistance at 227.2% Fibonacci, that is $3.15. The target was reached by the price spike, rather than steady growth, and then immediately went down to $2.5 area, where it is currently trading.

At this point, consolidation is likely to take place and could continue moving between $3 and $2.2, within a $0.8 corridor. However, break and close above $3.15 should be a bullish signal and most likely will result in further growth. Before that happens it could be a risky investment and the correction down could be substantial.

The major support remains at $1.15, while the nearest support based at $2.15 that was previous resistance. $2.15 and $3.15, both of these levels should be watched closely to give further clues about price direction in the short to medium term.



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