• ASTER trades at $1.24, down 16.4% weekly, forming an ascending triangle on the 4-hour chart.
• Resistance is still at a critical value of $1.49 and strong support is shaping in about $1.23 even after the recent downfalls in price.
• An established 4 hours close above $1.49 could confirm the breakout, which may reverse the market trend in the short term.

Aster (ASTER) has a technical trend that is indicating price squeeze in anticipation of a possible breakout. The token is at the moment trading at $1.24, which is a 16.4% drop in a week. Although there was a weakness last week, the development of an ascending triangle in the 4-hour chart indicates a potential continuation formation. 

The participants in the market are keenly following the structure in which the price consolidates between the support at $1.23 and resistance at $1.49. The trading activity has been stable with a daily average of about 4.06 million that is an indication of market activity.

Aster Consolidates Between $1.23 Support and $1.49 Resistance

The price movement indicates that Aster is moving within a narrowing zone creating high lows relative to an even resistance. This consolidation pattern is commonly formed when directional movement is halted as the buyers absorb the available supply at a slow pace. 

It is worth noting that the support level of $1.23 remains robust and the rebounds on smaller timeframes are repeated. On the positive side, opposition in the range of $1.49 has withstood several attempts of the recovery to higher levels. The structure of the pattern gives us signals that traders are holding up until they can get assured to get back with greater momentum.

Volume and Moving Averages Indicate Sustained Market Interest

The volume of trading is also stable at the present levels, indicating that liquidity is stable. The 50 period simple moving average (SMA) and 20 period exponential moving average (EMA) are close to the upper limit of the consolidation zone. This correspondence tends to bring out a balance between buyers and sellers. 

Nevertheless, the breakthrough across the resistance line can change the immediate dynamics. The upward trendline that is formed after the low point provides gradual upward force and this keeps the structure intact at the current moment.

Breakout Confirmation Requires Close Above Horizontal Resistance

In the case of Aster, it would need a confirmed breakout of 4 hours of trading above the horizontal resistance area of $1.49 to do so. So far, the ascending triangle indicates the constrained range bound motion. 

The integrity of the pattern is intact as long as the support of $1.23 is firm. There is a tentative upward trend in the short term, and traders are watching carefully any rise in the volume that could lead to a decisive move. In general, price compression in this framework is a sign of forming a possible volatility in further days.