What to know:
- ASTER is testing a key resistance near $0.80, with a breakout potentially opening the path to $0.90.
- Technical indicators suggest short-term bearish pressure, signaling possible consolidation or a deeper pullback.
- The Relative Strength Index is in neutral territory, indicating fading bullish momentum.
Aster (ASTER) is moving in a downward direction mirroring the changing conditions in the broader crypto market. The ASTER price has declined by 10.02% over the last 24 hours and 1.08% over the last week.
According to CoinMarketCap, the token is trading at $0.6921, with a trading volume of $272.49 million, down by 22.47% over the last 24 hours. Furthermore, its market capitalization stands at $1.71 billion, which has also declined by 10.06%.
Source: CoinMarketCap
Also Read: Aster Mainnet Signals Emerge With $25.9 Million Trade Profit
ASTER Could Surge to $0.90 If $0.80 Level Breached
However, the crypto analyst, Nehal, pointed out that ASTER is gaining attention in the crypto market as the token tests a key resistance level near $0.80. Traders are closely watching this zone, as reclaiming it could confirm fresh bullish momentum.
Holding above this level may signal growing buying pressure and strengthen confidence among short-term traders looking for continuation in the trend.
Source: Nehal’s X Post
Nehal has mentioned that a confirmed move past $0.80 could potentially open up for the $0.90 target, indicating a potential upside of around 15%.
However, if the token does not manage to rise past the resistance, then it might continue to move in a sideways trend. At the moment, traders are being cautious and waiting for confirmation before entering any fresh longs.
ASTER Technical View Points to Bearish Pressure
According to TradingView, the daily chart of the Aster indicates a bearish rejection at the 200-EMA at $0.789, reiterating the strong overhead resistance.
The price has been rising from the February lows, and now it’s challenging the confluence of the 20-50-100 EMAs at $0.70. This area will be key in determining whether the recent range will extend or if a correction will begin.
Source: TradingView
The Relative Strength Index currently sits at 48.63, dipping below the signal line, indicating that the bullish power is losing steam.
As the RSI remains in neutral territory and the price action stagnates, the asset may be overextended to the downside in the near term. If the $0.69 level fails to hold, the asset may retest the $0.60 support floor in the near future.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: Is Aster Poised for 130% Gains After Key Breakout and Rising Volume?
Be the first to comment