ASTER Weekly Analysis Feb 23

ASTER followed a sideways movement on a weekly basis, squeezing in the 0.67-0.71 range; while the main uptrend is preserved, BTC’s downtrend is creating pressure on altcoins. Staying above the critical support level of 0.6910 could strengthen the accumulation phase and trigger a move towards 0.77.

ASTER in the Weekly Market Summary

ASTER balanced at the 0.70 level with 0% change last week, while trading volume remained around 187.38 million dollars. In an environment pressured by BTC’s 4.19% decline across the market, ASTER showed relative resilience by maintaining its sideways range (0.67-0.71). RSI at 53.76 is in the neutral zone, MACD with a positive histogram signals bullish momentum but the trend filter highlights the 0.85 resistance. This configuration highlights accumulation phase potential for position traders; strategic opportunities exist as long as the big picture uptrend structure remains intact. For more detailed spot data, you can check the ASTER Spot Analysis page.

Trend Structure and Market Phases

Long-Term Trend Analysis

The long-term trend structure continues upward; price positioned above EMA20 (0.68) gives a short-term bullish signal. On the weekly timeframe, the primary uptrend remains intact above the main support of 0.6910. From a market cycle perspective, despite the macro context of BTC’s downtrend, ASTER’s relative strength is a positive sign for altcoin rotation. However, if the deep support at 0.4030 breaks, trend reversal risk increases. This level should be monitored as a critical inflection point for long-term portfolio managers.

Accumulation/Distribution Analysis

The weekly range of 0.67-0.71 shows classic accumulation phase characteristics: low volatility, balanced volume, and neutral RSI. Distribution patterns have not yet emerged; on the contrary, the volume profile supports horizontal consolidation. If it holds above 0.6910, a structure similar to the Wyckoff accumulation scheme could form, targeting an upside objective of 1.0235. Conversely, a downside break without volume increase could signal the start of distribution. This phase analysis suggests patience for position traders.

Multi-Timeframe Confluence

Daily Chart View

On the daily chart, ASTER is balanced with 3 support/3 resistance confluence on the 1D timeframe: supports at 0.6910 (69/100), 0.6457 (61/100); resistances at 0.7165 (66/100), 0.7710 (71/100). Price above EMA20, gaining momentum with MACD bullish crossover. Strong confluence on a daily basis among 11 key levels; around 0.70 acts as a pivot. The short-term bullish scenario activates with a breakout above 0.7165.

Weekly Chart View

From a weekly perspective, a range-bound structure dominates: confluence of 2 supports (0.6910, 0.6457) and 1 resistance (0.8179). The primary uptrend remains unbroken as long as weekly closes stay above 0.67. Multi-TF confluence forms with additional 2S/2R support on the 3D timeframe. This structure requires accumulation confirmation for portfolio managers with a monthly horizon; follow ASTER Futures Analysis for futures positions.

Critical Decision Points

Main support: 0.6910 (high score 69/100) – this is the inflection point defining the trend structure. A break below leads to 0.6457, above to 0.7165. Upper resistance at 0.7710 (71/100), breakout here triggers upside to 1.0235. Deep risk at 0.4030 (60/100), which could be triggered by BTC synchronization. These levels are strengthened by multi-TF confluence; market structure says “trend intact as long as 0.6910 holds”. Visit the ASTER and other analyses section for all analyses.

Weekly Strategy Recommendation

In Bullish Case

A close above 0.7165 confirms the bullish scenario: long positions targeting 0.7710, stop-loss below 0.6910. R/R ratio 1:3+ relative to upside 1.0235; accumulation phase supports breakout. Position sizing 2-5%, manage with trailing stop on EMA20.

In Bearish Case

A break below 0.6910 offers short opportunity: targets 0.6457-0.4030, stop above 0.7165. Risk increases in BTC downtrend context; R/R 1:2, light positioning recommended. Wait for weekly close confirmation for trend reversal.

Bitcoin Correlation

BTC in downtrend at 64,618 level (-4.19%), supertrend bearish signal raises caution flag for altcoins. ASTER could relatively outperform if BTC holds supports at 62,932/61,227; however, BTC below 62k pressures ASTER to 0.6457. Resistances at 65,320/68,190 breakout triggers alt rotation. With dominance bearish, ASTER longs should be hedged with BTC key levels.

Conclusion: Important Points for Next Week

To watch next week: 0.6910 support test and 0.7165 breakout attempt. BTC hold at 62,932 is positive for ASTER, risk increases below. Sideways continuation likely without volume increase; position traders should wait for confluence. Strategic R/R calculation favors upside 1.0235/downside 0.4030.