ASTER (ASTER) surged 3.10% over the past 24 hours, trading at $0.7122, as renewed investor interest flows into altcoins amid broader crypto consolidation. The token registered a trading volume of $644.84 million, pushing its market cap to $1.76 billion, a sign that the token is gaining traction in the market.
Technical analysis indicates that ASTER is trying to break out at $0.76, supported by the 8-period Exponential Moving Average (8EMA). Traders are closely watching whether the token can sustain above the short-term support level of 8EMA to test the recent highs or experience a pullback in the short term.
Pullback Risk to $0.65-$0.70 Liquidity Zone
Recent price action shows ASTER briefly pushing toward the $0.76 level in what appears to be an early upside move. Crypto analyst Ardi indicates that the token could make another push at this level if it continues to sustain above its 8-period Exponential Moving Average (8EMA), which is currently serving as short-term support.
As long as the price is sustained above the short-term support level, there is a high likelihood of testing the recent highs. However, a breach below the 8EMA could lead to a shift in market momentum in the short term.
If ASTER breaches below the 8EMA, a retracement is expected to the $0.65-$0.70 area, where large liquidity is present. Despite the strong rally, there have been no significant project-related announcements behind the price action. Instead, market rotation seems to be the cause of the volatility, as money flows into altcoins while larger cryptos are range-bound.
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ASTER Faces Resistance in the Dense Supply Zone
On the 4-hour chart, ASTER has just entered a dense supply zone between $0.63 and $0.66, which is a region that has been a local point of distribution in the past. The rally into this region was steep and nearly vertical, a pattern often seen when price runs quickly into overhead resistance.
The Relative Strength Index is currently close to overbought levels, indicating that the price advance is likely to slow down. The setup increases the possibility of a short-term correction before any sustained breakout attempt.
If a rejection at current levels is expected, the first significant level of support is at $0.56. Below that, $0.53 and $0.46 are areas of deeper liquidity, where buying interest may reappear if selling pressure increases.
Conversely, a strong close above the current supply zone, with strong volume, would mean that the pullback is not expected. Such a move could open the door toward the next resistance cluster above $0.76.
Currently, ASTER is in a high volatility environment. Market participants are eagerly awaiting whether the token can stay above support levels or if a cooldown period is to be expected before the next significant price movement.
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