ASTER Price Surges 18%, Is This the Start of a Bullish Reversal?

Over the past day, the crypto market has been eyeing on ASTER’s dramatic comeback. After plunging to a low of $1.10, ASTER price staged a powerful rally, surging ~19% in 24 hours. The sentiment shift was noticeable across platforms like CoinGecko and CoinMarketCap. Successively, a delayed airdrop announcement helped ease panic selling. Thereby, ushering in a sharp recovery as ASTER’s market cap ballooned by 40% in a day to $3.12 billion.

ASTER Price Analysis

After breaking below its double-top neckline at $1.50 on October 10, the ASTER price quickly found its footing near the oversold $1.10 zone. The RSI’s journey out of oversold territory marked the beginning of a momentum shift, with a striking 28.91% spike in trading volume. Consequently, this confirmed that buyers were stepping back in with conviction. Bulls managed to reclaim the $1.50 handle, and the ongoing challenge is whether they can push through $1.60, now acting as immediate resistance.

A sustained close above $1.60 would be a strong green light, potentially opening the door for a run to $1.75. Contrarily, if ASTER fails to break through, support levels at $1.50 and $1.36 come into play. That being said, as social buzz intensifies and panic selling halts due to the postponed airdrop, ASTER may be positioning for a sustained uptrend.

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