The ASTER cryptocurrency is consolidating between $0.70 and $0.73 as technical patterns signal a potential directional move. Analysts note a head and shoulders formation near the key $0.70 support, with a break below potentially testing $0.65. Meanwhile, the EMA 20 is acting as resistance, while the EMA 50 and 100 provide support, and narrowing Bollinger Bands indicate low market volatility.
The cryptocurrency ASTER is forming a head and shoulders pattern at a critical local support level. According to the crypto analyst Ardi, the $0.70 level has held for a week, but momentum is fading.
Technical analysts warn a break below this floor could trigger a test of the $0.65 uptrend. This signals increasing bearish pressure and vulnerability in short-term price action.
The market faces additional strain from trapped long positions around $0.75, creating overhead selling pressure. Traders who bought near that level may exit if support fails, accelerating declines.
Ardi stresses the importance of maintaining $0.70. Failure to hold could spark a broader correction, making this support a pivotal battleground for the token’s immediate trajectory.
According to TradingView, ASTER is rising while testing the upper Bollinger Band. The EMA 20 trades above the EMA 50, while the EMA 100 and 200 act as support.
Bollinger Bands are narrow, indicating low volatility, while the converging EMAs indicate indecision. The price is trading above the EMA 50 and 100, while the EMA 20 acts as resistance.
The RSI is currently at 47.52, just slightly below the 50 mark. This suggests a small bearish bias but remains above oversold levels, indicating neither buyers nor sellers have a clear advantage.
The MACD line is placed just below the signal line, with a small negative histogram indicating weak bearish pressure. Combined with the RSI, this indicates the market is in a consolidation period after a recent upward move.
