ASTER slipped below $1 and struggles to regain strength amid fading buying pressure.
The readings of RSI and DMI indicate rising sell-side activity and limited bullish control.
ASTER’s price may consolidate between $0.94 and $1.02, unless it breaks above $1.05
Since its debut on major exchanges, Aster (ASTER) has attracted significant attention, primarily due to backing from Changpeng Zhao (CZ), the CEO of Binance.
However, in the early hours of today, the token slipped below its key support zone at $1, signaling short-term weakness.
While ASTER’s price has rebounded, it has struggled to reclaim higher levels, reflecting a lack of buying pressure.
The altcoin seems to be entering a prolonged consolidation phase, which could lead to a deeper correction amid fading bullish momentum.
Will ASTER hold or is a deep correction ahead?
ASTER at Crossroads
On the 1-hour chart, ASTER’s Relative Strength Index (RSI) hovers near the neutral 50 mark, indicating buyers are not gaining control yet.
The indicator’s slight downward move suggests that if buying interest does not recover, the asset could drift toward oversold territory.
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Similarly, the Money Flow Index (MFI) stands at 59.4, showing increased capital outflows from the asset.
This indicates that selling pressure continues to build. If the trend persists, ASTER could face additional downward pressure and an extended consolidation phase before stabilizing.
If the current momentum persists, ASTER’s price could continue trading within a narrow range between the $0.94 support level and the $1.02 resistance level.
The 2-hour chart also shows weakening bullish momentum. The token struggles to break past its resistance zone at $1 at the time of writing.
Furthermore, the Chaikin Money Flow (CMF) reinforces the bearish sentiment, lingering in negative territory at -0.17, signaling stronger outflows than inflows.
The Directional Movement Index (DMI) confirms the selling pressure. As of this writing, the positive +DMI (blue) at 19.60 remains below the negative -DMI (orange) at 26.00, highlighting waning market interest.
Meanwhile, the Average Directional Index (ADX) stands at 35.32, confirming a strong downtrend.
Reviewing the Fibonacci retracement levels is essential for analyzing ASTER’s price action more effectively. The token’s immediate support aligns with the Fib level at $0.93, while ASTER currently trades at $1.
Over the past 24 hours, the token has repeatedly retested this region, showing that sellers are persistently pressuring the price toward this threshold to break it.
This pattern suggests that ASTER could enter an extended consolidation phase before any meaningful rebound occurs.
What Analysts Are Saying
However, analysts remain divided on ASTER’s outlook.
Some believe the token could stage a rebound and potentially trigger a rally after bouncing off its local low.
Marcell, a trader, said he is aggressively buying more ASTER. To back this thesis, he cited strong backing from CZ, who reportedly stated that the token will compete with Binance.
“AGGRESSIVELY buying more ASTER here we should see a strong bounce at this fib people seem to forget who is backing this DEX . Yzilabs and CZ. Its 35 days old. They took BNB to $1,300 from $0.1 Round 2 will commence just need to be patient,” He added.
Another trader, Ardi, added that traders need to watch $1.05 as it is a critical support point.
“Breaking and holding above $1.05 would be interesting for the bulls, as it would be the third overhead resistance they’d break today. If it fails to hold here, it could be putting in another lower high.” The trader highlighted.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
