Key Insights:
- Aster maintains support at $0.66–$0.71, signaling possible gradual recovery toward $1.45.
- Short liquidations at $0.72–$0.73 could trigger a price surge toward $0.80.
- A clean WXY pattern hints at potential for further price increases in the near future.
Aster ($ASTER) is showing signs of stabilizing after a prolonged downtrend. The cryptocurrency has held its ground within the $0.66 to $0.71 support zone, leading to speculation that it could be on the verge of a gradual recovery.
Strong Support Holds at $0.66–$0.71 Zone
Aster has been trading between the $0.66 and $0.71 price range, which is considered a key demand zone for the asset. The cryptocurrency has found support at this level, which is seen as crucial for any potential rebound. As long as Aster maintains its position above this support zone, traders expect the coin to gradually recover.
According to CryptoPeakX, highlighted as long as this support holds, a gradual recovery toward $1.00, $1.21, and $1.45 remains possible. The outlook suggests that Aster could be gearing up for a recovery, but this depends on whether the support range can continue to hold firm in the coming days.
Short Liquidation Zone Near $0.72–$0.73
However, Aster is also nearing a liquidity cluster zone, with short liquidations concentrated around $0.72 to $0.73. This could act as a potential catalyst for a price surge. CryptoPeakX noted that if Aster pushes into this zone, it may trigger a wave of short liquidations, which could lead to a price move toward $0.80.
Short Liquidation | Source: XThis is seen as a possible scenario if the coin can break through this resistance area. Aster’s ability to break through this area could be crucial for the next stage of its price movement. Aster is currently trading at $0.7114 with a 24-hour trading volume of $171.5 million, reflecting a slight increase of 2.33% over the last day
Technical Indicators Suggest Potential for Growth
Meanwhile, technical analysts have pointed to a clean WXY double zig-zag pattern forming in Aster’s price structure. This pattern suggests a possible recovery, as it meets both the extension and depth requirements.
“If I were to long it, I’d take it here with a stop at the inception wick and targets back toward the X highs,” The Penguin remarked.
Aster Possible Recovery | Source: XThe current setup is being watched closely for signs of upward momentum, particularly if Aster continues to follow its current technical pattern. These modest gains signal a potential shift in the market’s sentiment, suggesting the possibility of continued recovery in the near future.
| 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-forms-base-support-aiming-recovery/
