The post Aster Price Set For A Bullish Surge: Is $1.23 Next Or Will Bears Step In? appeared first on Coinpedia Fintech News
Today’s price action in Aster certainly hasn’t gone unnoticed. The crypto just flipped its technical playbook upside down, surging 10.5% in market cap to $2.39 billion. This is even as its price dipped 10.47% over the past 24 hours, currently circling around $1.18. Market watchers have witnessed $877.46 million in trading volume, up a whopping 59.27% from yesterday.
With the session’s lows at $1.06 and highs at $1.20, excitement is being fueled by three reasons. First, a spike in buybacks, entry onto Coinbase’s roadmap, and a decisive breakout above the psychological $1.10 resistance level. What’s really fueling this push? Let’s break it down.
Over the last day, buybacks rose by 50%, hitting $7.5K a minute. That removed 2.4 million ASTER coins from the market. Now that’s worth about $2.8 million, or nearly 0.12% of circulating supply. The supply shock tied to these buybacks has injected bullish energy, while rumors about Coinbase looking to add ASTER and a classic technical rebound have crypto enthusiasts eagerly eyeing the charts.
Aster Price Analysis: Targets, Momentum & Next Moves
Looking at the technicals, Aster’s recent climb above the $1.10 pivot and its 7-day SMA at $1.08 sets the stage for a bullish tone in the short term. The MACD just swung positive, with the histogram reading 0.027, confirming a fresh bullish shift. Aster price’s ability to flip $1.10 from resistance to support is especially key, since this zone had capped gains since early November.
I expect ASTER to challenge the $1.23 resistance within the next 3 to 7 days, provided momentum remains and volume catches up. Right now, trading volume is 44% below the weekly average, suggesting this rally could stall if new buyers don’t show up soon.
Contrarily, if ASTER runs out of steam, bears could drag it back toward the $1.06 support zone. That would represent only a mild downside, as underlying buybacks and overall sentiment seem too strong for a full-blown correction at this stage. However, if volume weakens further and the MACD histograms turn negative, I could see the price weakening toward $0.93.
RSI currently sits at 49.84, projecting neither extreme strength nor weakness. This suggests a battle brewing between buyers and sellers at current levels. For me, the next few days will be crucial. Either way, price action is primed for volatility.
FAQs
If ASTER sustains above $1.10 with rising volume, momentum favors buyers aiming for $1.23. Watch for a pullback if volume stays low.
The recent 50% rise in buybacks removed 2.4M coins, boosting bullish sentiment and catch-up rallies. It’s a short-term driver.
Failure at $1.23 could see a quick retreat to $1.06, especially if sellers seize momentum and volume stays suppressed.