ASTER Price Surges in V-Shaped Recovery as Bulls Target $1.66 Next

ASTER made a strong V-shaped recovery, which defied the prevailing bearish crypto market trend. According to the crypto analyst Daniel Ramsey, after a sharp fall with market-wide sell-offs, it has made a quick recovery and reclaimed its positions with strength. This shows that buyers are confident and demanding the asset.

Source: Daniel Ramsey X Post

Traders are closely monitoring the key price levels, and the targets for the upside are $0.9940, $1.2335, and $1.6655. This shows the increased level of optimism in the market. 

However, experts are of the view that the overall market continues to be bearish. For the asset to sustain the upward trend, volume and sentiment changes, along with the overall investor interest, are expected to be the key factors.

Also Read: ASTER Surges on Market Rotation, Targets Key $0.76 Zone

AATER EMA Alignment Signals Continued Uptrend

Aster (ASTER) price trends upwards after a steep fall around the period of Feb 6-7 to a price of around $0.41, touching the lower Bollinger Band. 

The price is rising with good bullish strength, remaining above the 20, 50, 100, and 200-period EMAs, which are also rising. Wider Bollinger Bands indicate higher volatility in the price, which may continue to the price range of around $0.728

Resistance is close to $0.750 on the upper Bollinger Band, with support coming from the EMA cluster between $0.647 and $0.693. 

Strong buying pressures are indicated by the bullish EMA alignment, and the consolidation between $0.72 and $0.73 could be a pause before the next leg up. 

Traders could look for a breakout above $0.750 or a pullback to the EMA support for potential entries for the next leg up.

Momentum Indicators Reinforce Bullish Momentum

The current RSI(14) is at 68-69, just below the 70 overbought threshold. The RSI has been rising, making higher lows along the way, indicating increasing bullish power. 

The RSI is also holding up above its signal average, which is bullish. However, the nearness of the RSI to the overbought zone suggests that there may be a pause or a correction if buying pressure eases.

Source: TradingView

MACD (12, 26, 9) continues in a bullish crossover, with the MACD line slowly moving above the signal line. Momentum remains positive, but the histogram bars are shrinking and slowly moving towards the neutral zone. 

In short, the positive move is losing steam. MACD lines are plateauing, indicating a possibility of a plateau where the move upwards depends on the buying power and increased volume.

Also Read: ASTER Breakout Triggers 3% Rally as Price Tests Key Resistance