ASTER is currently trading at $0.6963 on Tuesday, Feb 24. The token has experienced a drop of 0.83% in the past day. The trading volume has increased by 10.41% and is currently standing at $118.11 million, according to CoinMarketCap. Over the last week, the ASTER coin price has continued to drop by 2.68%.
Source: CoinMarketCap
ASTER Nears Support Zone With Resistance in View
CryptoPulse, an analyst, highlighted that there is a possibility for the token to revisit the $0.56-$0.59 fair value gap. This range might lead to a liquidity reset after the breakout that occurred earlier. He added that this range provides support before any push toward higher levels of resistance.
The analyst also highlighted the possibility of the token testing another significant level. He explained that the $0.75-$0.80 range is a key zone for future price tests. He pointed out that the market may react strongly if ASTER attempts to approach this region.
Source: X
Moreover, another analyst, Zach Humphries, mentioned that there are indications that the token is gaining strength. This is due to the token flipping its multi-month downtrend line to support. He added that there is already a clean retest. He added that Fibonacci levels show a possibility for the token to reach the $1.10 target.
Source: X
Also Read: ASTER Enters Accumulation Phase: Is a Rally Toward $0.88 Possible?
Futures Volume Climbs as Open Interest Declines
According to CoinGlass data, market participation has increased. the future volume increased by 12.32% to $279.31 million. Open Interest reduced by 2.84% to $277.26 million. The OI-Weighted Funding Rate stood at -0.0029% and signaled mild negative pressure.
Source: CoinGlass
Liquidations have risen over the last day. The total liquidations stood at $448.60K. Out of these liquidations, long positions were for $313.51K. Short positions were at $135.09K. The data showed that long traders faced a stronger liquidation impact.
Source: CoinGlass
The Relative Strength Index (RSI) stood at 53.18 on the daily chart. The RSI-based moving average recorded at 57.92. These values indicate that the price of ASTER is in a neutral zone.
The Moving Average Convergence Divergence (MACD) shows that the MACD line sits at 0.001. The signal line reads at 0.017. The histogram bars ranged from 0.019 to 0.017 over the last few periods. The indicator reflected reduced momentum as the MACD line stayed below the signal line.
Source: TradingView
However, ASTER is still trading in a critical zone as analysts are keeping an eye on key support and resistance levels. Technical levels indicate neutral and slowing momentum in the market. Traders now await confirmation of direction as volatility persists.
Risk Disclosure: This article is for informational purposes only and does not constitute financial advice.
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