ASTER Breakout? $1.30 Key to New All-Time High Run

Key Insights

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  ASTER has broken out of a long-term channel, suggesting a potential move towards previous highs around $2.80.
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  The price is currently facing significant resistance near the $1.30 mark, and a breakout or rejection at this level will dictate the short-term trend.
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  There is notable buying interest in the $1.13–$1.10 range, with traders looking to accumulate dips and set targets above $1.45.

Aster (ASTER) is attracting attention following a significant move above a critical level on its daily chart. The token was trading at approximately $1.26, marking a 2.7% increase over the last 24 hours and a 12.3% rise over the past week, according to recent data. Traders are now closely observing for sustained momentum that could propel the price to new all-time highs.

Daily Breakout Signals Growing Interest

ASTER has successfully moved above the upper boundary of a falling channel that had been in formation since late September. This breakout occurred around the $1.25 level, with a subsequent daily close confirming the upward movement. The breakout was supported by a strong green candle, indicating significant buyer activity.

Analyst Captain Faibik commented on the development:

“If channel breakout confirms, we can expect a new all-time high in the coming days.”

A confirmed breakout, with sustained support above this zone, could pave the way for a rally towards the $2.80 mark, a target derived from the previous trading range’s amplitude. Traders will be looking for a potential retest of the channel line to act as support before any further upward movement.

Support Zone Identified Between $1.13 and $1.10

Short-term trading strategies are indicating demand in the lower price range, with trader Tareeq placing buy orders between $1.131 and $1.100. This area coincides with a previous breakout level and has historically served as support. Tareeq indicated a disciplined risk approach, stating he is “risking 2% if fully filled.”

Should the price experience a pullback into this range, it could present a new entry opportunity for buyers anticipating higher prices. The potential upside from this support zone could extend towards $1.46, a target marked on the chart. This level has not been retested since the initial breakout.

Resistance Holding Firm Near $1.30

On the 4-hour chart, ASTER is currently positioned within a rising channel and is confronting a critical resistance zone situated between $1.24 and $1.30. This area has previously acted as a supply zone and aligns with the 200-period moving average, which could potentially impede any breakout attempts.

Analyst Mayank Dudeja highlighted that the price is encountering a barrier on higher timeframes. He suggested that a rejection at this level could lead to a decline towards $1.18 or $1.12. Conversely, a break below the channel might push the price down to the $0.92–$0.98 range, which has previously served as a support base. If ASTER manages to break above $1.30, potential targets at $1.36 and $1.42 could become relevant.

Next Price Movement Hinges on the $1.30 Level

While shorter-term charts indicate bullish sentiment, ASTER is currently consolidating at a significant resistance zone. A decisive move above $1.30, accompanied by substantial trading volume, could signal a continuation of the upward trend. Until this key level is breached, traders will be monitoring for either a breakout or a rejection to determine the asset's next directional move.