Key Insights:
- ASTER trades below $1.00 after trendline rejection, testing critical support at $0.93–$0.94 zone.
- RSI hits rare oversold levels, but bearish structure limits potential for a meaningful price bounce.
- Bulls must reclaim $1.07–$1.08 soon, or lower liquidity zones may be targeted by sellers.
Aster’s price has now dropped below the key $1.00 level after failing to hold its support. The move follows a sharp rejection from its descending trendline and continues a pattern of lower highs. Traders are watching closely as the price tests a critical support area that could decide short-term direction.
Support Zone Under Pressure
Aster is now trading at approximately $0.993, slipping below the key $1.00–$1.03 support range. According to Ardi, this zone has previously stopped price breakdowns, but the current move comes with renewed bearish momentum.
The price has rejected the descending trendline once again. The repeated rejection is keeping the market in a bearish structure. Analysts are closely watching the $0.93–$0.94 area, which marks the 78.6% Fibonacci retracement level. This level is often seen as the last major retrace before a deeper correction starts.
Bearish Structure | Source: XTechnical signals are showing weakness, with the Relative Strength Index (RSI) now sitting on oversold levels seen only a few times this month. Some traders expect a bounce if RSI holds, but others remain cautious due to the strong downward trend.
Bounce Unlikely Without Structural Change
However, for any bullish bounce to be taken seriously, the price needs to reclaim the $1.07–$1.08 range. This would break above the current mid-range and challenge the structure that has capped gains for weeks.
Traders also point to the $1.11–$1.13 zone as a heavier resistance level. Until these areas are broken, many believe that each ASTER bounce may only be temporary. As Ardi stated, “Every bounce is suspect until major overhead resistance is broken.”
If bulls cannot reclaim key levels, the chart could continue forming lower highs. This pattern keeps pressure on any upside attempt and puts further risk on buyers entering the market early.
Sentiment Shifting as Bullish Catalysts Fade
Meanwhile, market sentiment around Aster has weakened. The price has fallen from over $1.40 and is now trading under $1.00. Trader StrongHedge highlighted, “Events like the recent Binance week and upcoming token burns have not changed price direction”.
He also added that while a sweep of lower liquidity is still possible, the best time for fresh short positions may have passed.
Buybacks scheduled for December 10 are still days away. Until then, traders appear cautious. While RSI conditions may invite a short-term reaction, the overall structure still favors sellers unless bulls reclaim higher levels.
| 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. |
Source: https://coincu.com/analysis/aster-on-edge-can-bulls-defend-1-00/
