Aerodrome Finance (AERO) is currently trading at $0.301963, reflecting a significant 12.71% decline over the past 24 hours. The daily price range has been between $0.280223 and $0.348699, indicating increased volatility, with a volume of 59,130,528 and a volume-to-market cap ratio of 21.33%, suggesting active trading but also potential selling pressure.

Technical indicators reveal a bearish trend, with all moving averages (SMA) showing negative performance: the 8 SMA is down 0.95%, the 13 SMA is down 4.49%, and the 21 SMA down 7.75%. The longer-term SMAs reflect even steeper declines, with the 55 SMA down 14.85% and the 144 SMA down 20.43%, indicating sustained downward momentum.

The 1-hour Relative Strength Index (RSI) is at a critical level of 18, signaling extreme oversold conditions, while the 7-day RSI of 39 suggests that the asset is still in a weak position. Over a longer horizon, the asset has seen a drastic decline, with 7-day, 14-day, and 30-day price changes of -27.08%, -36.79%, and -48.77% respectively, reinforcing a strong bearish sentiment.

The all-time high of $2.32 reached on December 7, 2024, appears distant, as current prices represent a substantial retracement from peak levels. The market sentiment is heavily influenced by recent price action and the declining moving averages, suggesting that investor confidence is waning.

Given the current oversold conditions indicated by the RSI and the significant recent declines, a cautious approach is warranted. AERO's price may see a potential rebound in the short term, but with the persistent bearish trend and low RSI readings, I recommend a Hold rating at this time to reassess market conditions and potential support levels.