The cryptocurrency Aster (ASTER) surged more than 16% in trading on February 08, breaking out from a prolonged consolidation phase. The token traded near $0.628 with a 24-hour volume exceeding $414 million, following a nearly 40% rally from its previous accumulation range. Technical analysis points to a potential bullish divergence, with the next significant upside target seen at the $0.91 level.
The cryptocurrency Aster rallied more than 16% on February 08, continuing its recovery after a period of sideways trading. During the latest session, ASTER was trading close to $0.628, with a 24-hour volume exceeding $414 million according to TradingView data.
The rally followed a prolonged period of consolidation between $0.40 and $0.50. Crypto analyst Crypto Patel stated that ASTER saw a nearly 40% increase from those accumulation levels.
Technically, the 12-hour chart indicates a possible bullish divergence forming. The Relative Strength Index (RSI) has established higher lows while the price previously established lower lows.
The token is now approaching its short-term exponential moving averages. Analysts are watching to see if it can sustain above the former resistance area.
The next significant upside target is at the 0.618 Fibonacci retracement level of $0.91. A break below $0.49, however, would likely nullify the current bullish setup.
