What's next for Aurora?
Key Takeaways
- AURORA has fallen by 99% since its all-time high in 2022.
- The price started an upward movement in November 2023.
- Aurora price predictions suggest the token is mired in a long-term downtrend.
The Aurora token has been mired in a sharp downward trend for the past two years. Even though it bounced near the end of 2023, it is still 99% below its all-time high price.
On Aug. 21, 2024, AURORA exchanged hands for $0.129.
Let’s examine our price predictions for AURORA, made on Aug. 21, 2024. We will also examine the AURORA price history and discuss what AURORA is and does.
Aurora Price Prediction
CCN used the wave count method to form its Aurora crypto price predictions. To refine our forecasts and establish the maximum and minimum AURORA price predictions, we’ve added 20% to the targets.
| Minimum Aurora Price Prediction | Average Aurora Price Prediction | Maximum Aurora Price Prediction | |
|---|---|---|---|
| 2024 | $0.55 | $0.68 | $0.81 |
| 2025 | $0.048 | $0.06 | $0.072 |
| 2030 | $0.00032 | $0.0004 | $0.00048 |
The most likely wave count indicates that the AURORA price increase starting in Nov. 2023 is an A-B-C correction.
This is because it is a 3-wave structure instead of a five-wave one. Then, it completed another A-B-C structure, this time facing downward. The bullish divergence in the 3-day RSI (green) confirms the bottom is in place.
These structures are likely parts of waves A and B in a larger, A-B-C upward movement (white). If waves A and C have a 1:1 ratio, AURORA will reach a high of $1.63 on Oct. 3.
Then, we can project a lengthy decline similar to the one after the Jan. 2022 all-time high price.
The projected decline gives an AURORA price prediction of $0.68 and $0.06 for the end of 2024 and 2025, respectively.
Finally, we use the daily rate of decline since the launch to make an AURORA price prediction for the end of 2030. This leads to a target range between $0.0032 and $0.0048.
Aurora Price Prediction for 2024
Our wave count method gives an AURORA price prediction range between $0.55 and $0.81 for the end of 2024.
Aurora Price Prediction for 2025
Our wave count method gives an AURORA price prediction range between $0.048 and $0.072 for the end of 2025.
Aurora Price Prediction for 2030
Using the daily rate of increase since launch, we arrive at an AURORA price prediction of $0.00032-$0.00048 at the end of 2030.
AURORA Price Analysis
The daily AURORA price chart shows a descending wedge in place since the start of 2024. The descending wedge is considered a bullish pattern, meaning it usually leads to breakouts.
AURORA has nearly reached the end of this wedge, so a decisive movement is likely. The fact that the price bounced at a long-term horizontal support area and the growing bullish divergence in the daily RSI (green) enhance the likelihood of this breakout.
If a breakout happens, the next resistance will be at $0.34.
Short-Term AURORA Price Prediction
The AURORA price prediction for the next 24 hours forecasts a breakout from this wedge. Our projected increase suggests AURORA can reach the $0.35 resistance sometime in September.
Aurora Relative Strength Index (RSI)
The Relative Strength Index (RSI) is a momentum indicator traders use to determine whether an asset is overbought or oversold. Movements above and below the 50 line also indicate if the trend is bullish or bearish. On Aug. 21, 2024, Aurora’s RSI was 41, indicating a bearish sentiment.
Aurora Average True Range (ATR)
The Average True Range (ATR) measures market volatility by averaging the largest of three values: the current high minus the current low, the absolute value of the current high minus the previous close, and the absolute value of the current low minus the previous close over a period, typically 14 days.
A rising ATR indicates increasing volatility, while a falling ATR indicates decreasing volatility. Since ATR values can be higher for higher-priced assets, normalize ATR by dividing it by the asset price to compare volatility across different price levels.
On Aug. 21, AURORA’s weekly ATR was 0.056, implying low volatility. It has fallen since March 2024. As a proportion of the AURORA price, the ATR is 0.37.
Best Days and Months to Buy Aurora
We examined the AURORA price history and found the lowest prices on certain days, months, quarters, and even weeks in the year, indicating the best times to buy Aurora.
| Time to Buy AURORA | Best Days, Weeks, Months and Quarters |
|---|---|
| Best Day | Wednesday |
| Best Week | 44 |
| Best Month | December |
| Best Quarter | Quarter 4 |
Aurora Price Performance Comparison
AURORA is a platform that provides Ethereum compatibility and scalability, so let’s compare it with similar projects.
AURORA Price History
Next, let’s examine some key dates in the Aurora price history. While past performance should never be taken as an indicator of future results, knowing what the coin has done can give us some very useful context when making or interpreting an Aurora price prediction.
2021: Aurora entered the open market in late November 2021 with a starting price of $13.65. The token then rose, closing the year at $22.17.
2022: The year began positively for Aurora, reaching an all-time high of $35.43 on January 16. However, a series of market crashes took a heavy toll on the entire crypto market, including AURORA. By the end of the year, the token had plummeted to $0.16, marking an annual loss of more than 99%.
2023: The year started with optimism as Aurora broke past $0.30 in February. However, it soon declined, reaching an all-time low of $0.05 on October 19. Following this, Aurora rebounded and surpassed $0.10 by the end of the month. By December 3, it reached $0.15 before surging to $0.39 the following day. As of August 21, 2024, the AURORA price is $0.13.
| Time Period | AURORA Price |
|---|---|
| Last Week (Aug. 14, 2021) | $0.14 |
| Last Month (July 21, 2024) | $0.18 |
| Three Months Ago (May 21, 2024) | $0.21 |
| Last Year (Aug. 21, 2023) | $0.06 |
| Five Years Ago (Aug. 21, 2019) | N/A |
| Launch Price (Nov. 18, 2021) | $7.21 |
| All-Time High (Jan. 16, 2022) | $35.40 |
| All-Time Low (Oct. 19, 2023) | $0.04 |
Aurora Market Cap
The market capitalization, or market cap, is the sum of the total number of AURORA tokens in circulation multiplied by their price. On Aug. 21, 2024, Aurora’s market cap was $65.208 million, making it the 484th-largest crypto by that metric.
Who Owns the Most Aurora?
The wallet with the most AURORA held 87.4% of the crypto’s supply on Aug. 21, 2024.
Richest AURORA Wallet Addresses
On Aug. 21, 2024, the five wallets with the most AURORA tokens were
- 0x23ddd3e3692d1861ed57ede224608875809e127f. This wallet held 874,340,234 AURORA or 87.43% of the total supply.
- 0x67c04d99589a5673ca552f61a570974868ce56cc. This wallet held 12,303,305 AURORA or 1.23% of the total supply.
- 0xcfb24d9cd94d54feab2f55dca37e7f473f153570. This wallet held 9,855,835 AURORA or 0.99% of the total supply.
- 0xcffad3200574698b78f32232aa9d63eabd290703. This wallet holds 7,605,653 AURORA or 0.76% of the total supply.
- 0xf3b0073e3a7f747c7a38b36b805247b222c302a3. This wallet held 6,140,758 AURORA or 0.61% of the total supply.
Aurora Supply and Distribution
| Supply and Distribution | Figures |
|---|---|
| Maximum Supply | 1,000,000,000 |
| Circulating supply as of Aug. 21, 2024 | 506,102,307 (56% of the maximum supply) |
| Holder Distribution as of Aug. 21, 2024 | The top 10 holders owned 93.17% of the supply |
From the AURORA Whitepaper
According to the whitepaper , Aurora is an EVM (Ethereum Virtual Machine) compatible blockchain and ecosystem, running as a decentralized layer 2 on the NEAR Protocol.
Aurora (AURORA) Explained
The Aurora platform allows people to connect projects on the Ethereum (ETH) blockchain with the Near Protocol (NEAR) blockchain.
It was launched in 2021 and is powered by the AURORA crypto token.
How Aurora Works
Aurora is, in effect, a smart contract. This means that it is a computer program that automatically executes once certain conditions are met. As the whitepaper says: “We are here to help scale Ethereum ecosystem for developers to operate their apps on an Ethereum-compatible, high-throughput, scalable, and future-safe platform, with low transaction costs for their users.”
Aurora acts as a kind of bridge between Ethereum and the Near Protocol.
People who hold AURORA can vote on network changes. AURORA can also be bought, sold, and traded on exchanges.
Because Aurora is based on NEAR, it is a token, not a coin. You might see references to such things as an Aurora coin price prediction, but these are wrong.
Is Aurora a Good Investment?
It is hard to say. AURORA has shot up over the last few days, seemingly without reason. This recent performance is as likely to be just a flash in the pan as it is a new normal for the token.
That said, the system allows cross-chain activity between Ethereum and Near Protocol, making it useful, albeit in a somewhat niche manner.
As always with crypto, you should do your own research before deciding whether or not to invest in AURORA.
Will Aurora go up or down?
No one can really tell right now. While the Aurora crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind that prices can, and do, go down and up.
Should I invest in Aurora?
Before you decide whether or not to invest in Aurora, you will have to do your own research, not only on AURORA but on other coins and tokens such as Moonbeam (GLMR). Either way, you must also ensure you never invest more money than you can afford to lose.
FAQs
Will Aurora reach $10?
Our price predictions suggest AURORA will not reach $10 in the near future.
What is Aurora used for?
AURORA token holders can vote on changes to the Aurora network. People can also buy, sell, and trade it on exchanges.
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