The price of ASTER coin is very likely to be highly volatile. Rapid growth has drawn in traders and investors. Analysts suggest that correction could come in the form of a stable price. Rapid rises in price are not necessarily a reliable indication of the market’s long-term trajectory. The market mood is cautious but vibrant.
ASTER is currently trading at $1.59 down 4.01% over the last 24 hours. The trading volume also declined by 19.43% and is now standing at $1.96 billion. However, weekly growth is 1789.39%. This significant rise indicates heightened market activity. Traders are closely monitoring the momentum.
Source: CoinMarketCap
Crypto analyst BitMonty highlighted that resistance levels are set at $1.98, $2.34, and $2.67. The currency is still in a bullish trading channel. The retest of the golden zone is valid, which suggests that another movement to the upside could be expected. Price action in these regions could define the next momentum phase.
Source: X
Moreover, another analyst, Smith, mentioned that the coin is ranging in a diminishing channel. Breaking out from this pattern could lead to a 50% increase. This viewpoint from a technical angle has gained traction among traders seeking validation for the most recent upward movement. The analyst’s assessment leans more to the bullish outcomes.
Source: X
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The Relative Strength Index (RSI) is currently 55.32, which is neutral. This indicates that the market has cooled off even to buying and selling pressure. The RSI indicates that it is consolidating, and the bulls and bears are not fully in control.
The Moving Average Convergence Divergence (MACD) is flat at 0.01.This indicates a lack of strong movement, presenting only the potential for a change in direction. When the MACD line moves to the right, it can generate swift bullish momentum. Traders are reserved but active.
Source: TradingView
According to CoinGlass data, trading volume fell by 26.41%, to $6.68 billion, and open interest rose by 12.26% to $832.66 million. The OI-weighted funding rate is 0.1956%. This suggests that leveraged traders are still expecting gains despite a slowdown in spot activity.
Source: CoinGlass
ASTER is vulnerable after such a strong weekly advance. Then there’s the neutral RSI, flat MACD, and diverging analyst opinion. The new resistance has now become the significant direction of price around the $2 level. A breakout would strengthen future gains, while a breakdown would confirm a correction.
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