Key Insights:
- Inverse Head and Shoulders breakout on 1H chart drives ASTER’s reclaim of key $0.60 level.
- Falling wedge breakout on daily chart signals strong demand returning after long downtrend.
- Whale activity picks up above $0.60 while RSI reaches 70; EMA200 near $0.64 is next test.
ASTER has moved back above the $0.60 level after gaining more than 50% from recent lows. A strong reversal was confirmed on the 1-hour chart, where an Inverse Head and Shoulders pattern formed over several days. The neckline around $0.56 was broken, which opened the way for further upside.
Right after the breakout, price recovered quickly in a V-shaped move. This shift followed heavy buying interest and pushed the price above the previous resistance. The $0.60 level is now seen as a local support area. A drop back to $0.56 could still hold as a valid retest zone if momentum slows.
Daily Breakout from Downtrend Pattern
On the daily chart, ASTER has broken out of a falling wedge, ending a long period of lower highs and lower lows. This breakout came with a daily gain of nearly 10% and increased trading volume. The wedge had formed over several weeks and was finally cleared to the upside, signaling stronger demand.
From a project standpoint, the ASTER team continues work on reducing token supply. Community sources also note that its Layer 1 network is close to release. These developments have come at a time when interest is picking up again, despite earlier concerns.
Next Test at EMA200 Near $0.64
The 4-hour chart shows ASTER moving toward the EMA200, now around the $0.64 area. This level could act as the next barrier. Traders are watching closely, as the zone may see some profit-taking, especially from smaller holders who entered at lower levels around $0.50.
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Recent activity also shows some mid-sized wallets buying at higher prices. “Whales have not accumulated the dip at $0.40, and are buying at higher prices,” one post noted, raising questions about whether these buys are long-term entries or short covers. The move comes as Bitcoin has held above $59,800, lifting overall market sentiment.
Momentum High, Caution Near Overbought Levels
The RSI on the 4-hour chart has touched 70, often seen as a point where price can cool down. At the same time, MACD indicators show a widening bullish crossover, pointing to continued strength for now.
Eyes are now on the $0.64 resistance and a wider target range between $0.71 and $0.89. Whether large buyers step in on the next pullback will matter. As one observer put it, “It will be very important to see which will be the behaviour of the whales on the next dip.” If buying continues during weakness, the move could have more room to run.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
