AURORA, the token created by the NEAR Protocol team for interoperability between Ethereum and NEAR, is rapidly becoming popular for its excellent prospects as the ecosystem expands. After facing a vague start, Aurora’s price has been showing some bullish trend and the technical readings suggest a further upward trend in the coming months.
Aurora has a special governance model and a token distribution that is beneficial to the platform. The token has a market cap of 1 billion tokens which make it the backbone of the Aurora ecosystem. Being launched at first on the Ethereum network as an ERC20 non-upgradeable token, the cryptocurrency token was later transferred to the NEAR blockchain through the Rainbow Bridge.
Aurora Price Overview
Currently, Aurora price is $0.209146 which has shown a minor bearish trend with a 24 hours change of -2.48%. In the last 30 days, the token has been under considerable selling pressure, and the price of the token has reduced by over 15%. However, despite the short-term weakness in price the token, certain market metrics point to a bright future for the token.
Source: TradingView
The Fear & Greed Index, which assesses investor sentiment now stands at 82, a level of Extreme Greed. This high level of market optimism is normally a sign that a price rally might be in the offing but it can also be an indication that the market is overbought. Therefore, there is the need for traders to be cautious since major reversals may follow excessive market sentiment.
Source: Alternative.me
On the basis of technical analysis, Aurora price trend shows both buying and selling pressure. The token’s 50-day SMA is $0.133018, and its 200-day SMA is $0.168708. This indicates that the token is in the short-term bullish trend as the 50-day SMA is trading above the 200-day SMA. One of the most important technical indices is the Relative Strength Index (RSI), which is at the moment standing at 61.63. This reading shows that the token is almost in the overbought zone since when the RSI is above 70, it means that the asset is overpriced, and when the RSI is below 30, it means the asset is undervalued.
Aurora Price Prediction for 2024
According to Coincodex, the rest of the year 2024 will be very favourable for Aurora. By the end of the year, token is expected to rise by 229.47% and cost $0.680014 per coin by December 25, 2024. This projection is an indication of the escalating interest of investors in the token’s future, backed by steady integration and a positive outlook on the NEAR ecosystem. The token project may face some short-term fluctuations in the price of the cryptocurrency.
For November 2024, price forecasts are expected to fall in the range of $0.206397 and $0.704343 with the possibility of price rising to $0.409458. Such levels if achieved, investors who buy at the current prices may reap huge profits up to 236.98% if they off-load their investments at the upper-end of the range.
Aurora Price Prediction 2025
The future of Aurora seems promising as more and more analysts expect the token to expand in the coming years. The price of token for 2025 is estimated to lie between $0.352622 and $0.980059 with the average trading price being $0.557711. Some of the most optimistic theories even predict that, for instance, by January 2025, 1 token could be worth as much as $1.36890.
Aurora Price Prection 2030
For the further development of the project, the price of Aurora is expected to have a steady increase. It is possible that by 2030 the token will cost $0.784531. Although these projections are on the assumption of a certain trend, they show a future trend that Aurora could become one of the most valuable tokens in the Ethereum-NEAR integration ecosystem.
Year Min. Price Avg. Price Max. Price Potential ROI 2024 $ 0.206397 $ 0.100456 $ 0.909573 347.73% 2025 $ 0.352622 $ 0.557711 $ 0.980059 382.42% 2030 $ 0.525655 $ 0.66378 $ 0.784531 286.18%
Conclusion
Despite the recent fluctuations in its price, Aurora presents a good long-term investment prospect. The token has bullish signs from the technical analysis as it has the 50-day and 200-day SMAs. Investors may have to consider coin for investment, especially for those who want to make a profit from the NEAR ecosystem in the year 2024 and the future. But as it often occurs with cryptocurrencies, the investors should be ready for some risks of the market and definitely study the topic more thoroughly before coming to a decision.
FAQs
What is Aurora Coin?
Aurora is an Ethereum-NEAR bridge token that is built on the NEAR Protocol. The proposal will increase the scalability and transaction throughput of both ecosystems.
What’s the current price trend for Aurora?
As of now, token is trading at $0.209146. Even though, there has been short-term declines recently, technical analysis points to the upward direction, with the 50-Day SMA being above the 200-Day SMA.
What is Aurora’s 2024 price prediction?
Coin could surge to $0.68 by the end of 2024 with the price ranging from $0.21 to $0.70.
What’s the long-term outlook for Aurora?
By 2025, the price of Aurora may be $1,37. By 2030, token may stabilize in the range of $ 0.78.