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.
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.
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.
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