Aster (ASTER) is exhibiting renewed bullish momentum after reclaiming the $2 threshold, approaching its all-time high of $2.43.
The recent increase in demand has bolstered the altcoin’s position in the market, with traders expecting another upward movement if favorable conditions continue in the coming days.
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Aster Shows Potential Strength
The Relative Strength Index (RSI) is pulling back from the overbought zone, returning to positive territory. Generally, an overbought RSI indicates a potential pullback as bullish sentiment begins to wane.
Nevertheless, in this instance, the indicator remains within the bullish range, implying that Aster’s upward trend still has potential for further extension.
This slight correction in the RSI could benefit ASTER by allowing buyers to re-enter the market. As long as the RSI stays above the neutral 50 mark, the token is likely to maintain its upward momentum, bolstering investor confidence in the ongoing rally.
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Aster’s overall market momentum is strengthening, with the Average Directional Index (ADX) approaching the critical 25.0 level. The ADX measures trend strength, and a rise above 25.0 confirms the existence of a strong trend. Since ASTER is currently in an uptrend, surpassing this threshold could enhance its bullish potential.
Once the ADX exceeds 25.0, Aster’s market structure would achieve greater stability, indicating that traders are committed to sustaining the rally. This confirmation would provide additional validation of the altcoin’s increasing momentum.
ASTER Price Approaches ATH
At the time of writing, Aster is trading at $2.02 after successfully breaking through the $1.87 resistance. The altcoin is now only 17% away from its all-time high of $2.43, indicating that further gains may be attainable if market sentiment continues to improve.
The technical setup supports a potential rise, as increasing momentum and positive indicators could push ASTER above the $2.24 resistance. A breakout from this level would likely drive the token above $2.43, establishing a new all-time high and solidifying its bullish trajectory.
However, downside risks remain if investors begin to take profits. If selling pressure increases, Aster may drop below the $1.87 support, potentially falling toward $1.63 or lower. Such a decline would invalidate the bullish outlook and halt the ongoing uptrend.
