The price has closed above the 23.6% Fibonacci retracement level, with a target price of $1.38 for the next few trading days.
Market sentiment is high, driving Aster's price up by 8%, but the spot trading volume has not fully confirmed this upward trend.
The RSI indicator remains neutral, and a key breakout area near $1.26 may initiate the next round of upward momentum.
Aster's price has surged recently, rising 8% within 24 hours and accumulating over 8% in a week, attracting widespread attention from traders. What has driven this strong surge? This increase reflects a strengthening of market optimism after the delay in token unlocks temporarily eased selling pressure.
Meanwhile, Aster announced it will hold the largest trading competition in history, with a prize pool of up to $10 million, which has sparked heated discussions in the cryptocurrency circle. People’s confidence in Aster's token economic model has been reignited, further solidifying the bullish situation. Therefore, marketers also seem to be in high spirits, closely monitoring key price levels and looking for upward momentum.
Price trends revealed: target price levels emerged
Aster cryptocurrency price has broken through the 7-day and 30-day moving averages, surpassing the resistance level that has hindered its rise for the past month. Momentum indicators have also sent clear signals. The Relative Strength Index (RSI) is at 57.5, indicating a balance of power between buyers and sellers. The Moving Average Convergence Divergence (MACD) histogram has turned positive (+0.034), which is a classic signal of enhanced bullish momentum.
In-depth technical analysis indicates that if the closing price is above the 23.6% Fibonacci retracement level of $1.16, the price structure will turn bullish. Our current target is $1.38, which is the next major target. This means that if the upward momentum continues, traders may see these target levels tested within a few days.
Volume shows a relatively subtle trend. Although the 24-hour trading volume surged 147% to $1.07 billion, spot trading volume dropped by 32.89%. This gap suggests there may be cautious sentiment in the short term, indicating that this wave of rise may need a new round of buying to sustain it. Furthermore, the $1.26 high is a crucial turning point. If the price closes above this level, Aster's price could rise to $1.38. If it fails to break this level, a pullback is expected, with $1.10 providing strong support.
Bullish arguments for cryptocurrency:
From a trader's perspective, the stage we are currently in is a typical consolidation phase. Price fluctuations within a narrow range indicate that a significant market move is imminent. Bulls believe this is merely 'accumulation' before an explosion, with the price expected to reach higher highs as the expansion unfolds.
CryptoBull said: 'Don't tell me afterward that you weren't warned.' This sentiment suggests that pressure is increasing, and once buying momentum resumes, the potential for a significant rise is enormous. This statement highlights that even with Bitcoin's price fluctuations, Aster can outperform the market. If overall market sentiment improves, $1.38 may just be a starting point, with long-term target prices above $3.
Bearish or bullish?
Currently, technical indicators are strongly bullish, but caution is advised. If the closing price is above $1.26, it may trigger a rapid rise and consolidate momentum towards $1.38. However, if sellers regain control of the market, a drop to $1.10 or even $0.999 cannot be ruled out.
This will imply a 20% drop space, worthy of attention for risk management. If bullish, with the increase in volume and acceleration in price, a real explosive growth may occur. Therefore, Aster will become one of the tokens that trend traders should focus on. Price fluctuations are expected, but unless key support levels are broken, the tendency is bullish.
Frequently Asked Questions
Why did Aster's stock price go up today?
Due to delays in token unlocks, new trading competition, and a recovery in investor confidence in its token economic model, Aster's price has surged significantly.
What price ranges are currently important?
The $1.26 level is a key point for confirming a breakout, while the $1.10 level provides strong support when sellers reverse momentum.
To what extent can Aster's bullish sentiment reach?
If the price closes above $1.26 and volume increases, it may reach $1.38 within a few days. The expansion phase indicates that in a bull market, the price could even reach $3.
