Key Insights:
- ASTER trades near 0.764 Fib as RSI divergence hints at potential reversal from current lows.
- Vuori Trading targets $3.9 if $0.53 holds; structure matches classic falling wedge setup.
- On-chain activity remains high, suggesting price drop may be liquidity-driven, not distribution-based.
ASTER was trading at $0.8061, down 7.2% over the past 24 hours and 13.4% in the past week. The current price move has brought it into the 0.764 Fibonacci retracement zone near $0.7670. This level has been marked as a key support area by traders who follow long-term price structures.
A recent chart shared by Vuori Trading shows price compressing within a falling wedge. The wedge formation appears to be reaching its end.
According to their post,
Source: Vuori Trading/XThat target lines up with the 1.618 Fibonacci extension level, a common marker in technical trading.
Momentum Signals and Target Projections
The RSI indicator on the chart shows a pattern where it formed higher lows even as the price made lower lows. This setup has appeared multiple times in ASTER’s recent history, each followed by a short-term bounce.
If the current support holds, Fibonacci-based projections suggest potential price points at $1.56, $2.01, and $2.73, with the 1.618 extension pointing to $3.91. These levels are based on previous high-to-low moves and do not guarantee outcomes but offer structure for those watching technical signals.
Trend Break Below Long-Term Support
A separate chart shows a break below a long-standing ascending trendline. The pattern, which resembles a descending triangle or wedge, has guided price action since early October. The break below support may be the result of increased sell-side activity.
Kripto Warrior commented that Binance founder CZ is now down roughly 14% from the level where he stated he bought ASTER. The same post mentioned a possible buying range between $0.30 and $0.40, based on fully diluted valuation models. That level has not yet been reached, but may attract interest if price pressure continues.
Strong On-Chain Activity Despite Drop
On-chain data remains active, according to DrBullZeus. In a recent post, he noted that price dips have been accompanied by rising network activity. He suggested that this often reflects temporary selling events rather than long-term exits. “That combination usually points to forced selling and liquidity grabs, not real distribution,” he wrote.
The market was focused on whether ASTER will reclaim the lost trendline or continue toward lower targets. A move back into the wedge could renew buying, while failure to hold may lead the market to test the $0.50 level or lower.
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.
Source: https://coincu.com/analysis/aster-hits-key-fib-level-next-stop/
