ASTER Breaks 5-Month Slump, Targets $0.6846 After Retest

Key Insights:

• ASTER confirms breakout above wedge pattern after retesting $0.59 support with growing trading volume.
• Open interest climbs back to $350M, matching price recovery from February lows and signaling momentum.
• Traders are watching $0.6846 as the next resistance, with $1.22 projected if breakout holds.

ASTER has broken out of a 5-month downtrend, with price moving above the descending trendline after a clean retest of the $0.59 level. The structure shows a shift in market direction, supported by rising volume.

At the time of writing, ASTER is trading near $0.6391. The move followed a bounce from $0.59, which is now acting as support. CoinCompass noted,

 “$ASTER is going for a run towards our first target. $0.6846. With a perfect retest on the $0.59 level.” 

That target matches a previous resistance zone on the chart.

Falling Wedge Pattern Breakout Seen on Daily Chart

A falling wedge pattern, formed over several months, has also broken to the upside. This was observed on the daily timeframe, where price moved above the upper trendline, followed by a quick retest. The pattern suggests a change in direction after a long period of lower highs and lower lows.

Technical analyst Captain Faibik shared a projected move of 130%, aiming for $1.22. “Expecting +130% Bullish Rally in the Coming days,” he wrote. The price has held above the wedge breakout zone so far, keeping the setup intact.

Open Interest Rises with Price Recovery

Data from Coinglass shows open interest fell from over $500 million in early December to below $250 million in early February. During this time, ASTER’s price also dropped from around $0.90 to $0.45. Both metrics reached a low around February 6.

Since then, open interest has climbed back to about $350 million. Price has recovered above $0.60, showing renewed activity in the market. This change points to traders opening new positions as momentum builds.

Volume Builds as Traders Watch $0.6846

ASTER’s 24-hour trading volume stands at over $305 million. The token is up 5.5% in the last 24 hours and 7.9% over the past week. Volume has increased alongside price, suggesting more market participants are entering.

The $0.6846 level remains the next key point to watch. A close above this zone could clear the way for a move toward $1.22, based on current technical setups.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.