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ASTER Defends $0.68 Support as Tight Consolidation Near $0.70 Keeps Price in Focus
ASTER is trading close to the $0.7037, but it is remaining above the support level of $0.6819.
The short-term volatility is under control as price ranges between $0.6807 and $0.7232.
The resistance at $0.7136 remains to limit the increase in the upside movements in the recent trading sessions.
Aster( ASTER) has been trading around the price of approximately $0.7037 in the recent session and this indicates a stable yet careful market performance. The token has been on a downward trend of 1.3 percent over the past 24 hours and it is also slightly lower in the current intraday highs.
Interestingly, ASTER has been trading within a clear range and this has been an aspect that has affected the current price movement. Market data show that the 24-hour high is at $0.7232 and the 24-hour low is at $0.6807. This is a range of continual consolidation as opposed to the directional movement. With the price action stabilizing, traders are still looking at the immediate levels of technical analysis.
ASTER Maintains Structure Above Key Support
Price action indicates that ASTER is holding above the support zone of $0.6819 which is affected by the short term selling pressure. The level has capped negative actions severally through the past sessions. It is important to note that whenever this zone is dipped into, it has attracted a purchase interest.
This has caused price to be above the bottom limit in its day-to-day spectrum. The short-term organization has maintained this conduct by ensuring that price remains high above the recent lows. Nevertheless, negative pressure is observable after the drop experienced after 24 hours. This notwithstanding, trading conditions have remained stable due to lack of a breakdown. This consistency has enabled ASTER to trade in the recent range midpoint.
Resistance Levels Define Immediate Price Boundaries
The focus has now moved to the resistance level of $0.7136 which has limited the attempts to move upwards. Price has been hovering in this area, and is yet to establish a prolonged position above it. Interestingly, rejection close to this degree has been associated with pullbacks intraday. It has been a trend that strengthened opposition as a temporary obstacle.
Price has however continued to put this zone to the test over and over again. Narrowing of price ranges is usually accompanied by such repeated tests. Meanwhile, the wider 24-hour range is preserved which strengthens sideways movement. This range bound structure is still influencing short-term trading.
ASTER Inches Forward Within a Tight Cage, Eyes on Potential Breakout to $0.90
With support and resistance clearly defined, ASTER remains confined within its established range. Notably, price stability above $0.68 has prevented deeper retracements. Meanwhile, the upward movements have been curtailed by resistance around $0.7136. This equilibrium has resulted into moderated volatility as opposed to dramatic fluctuations.
With the trading process persisting, the movement in prices is held close to the existing levels. The current range gives a structure on how the price can be observed in the near future with some analysts expecting a quick move to 0.9$. Any movement beyond these limits would however change the existing structure. So far ASTER keeps trading in a tight and monitored area.