• Aster (ASTER) sees a 6.23% decline, with its price dropping to $1.86 and trading volume at $2.58 billion.
• The coin has surged 204.36% over the past week, indicating significant growth potential despite short-term setbacks.
• Analysts predict a potential rally for ASTER, but bearish signals suggest key support at $1.80 and resistance at $2.20.

Aster (ASTER) is currently trading at $1.86, representing a decline of 6.23% over the past 24 hours. Trading volume has also fallen by 8.12% and is now standing at $2.58 billion. This is an indication that the market is taking a short-term retreat, but the future of this coin is generally encouraging because it has performed exceptionally well recently.

Source: CoinMarketCap

In the last week, ASTER has soared by 204.36%. This tremendous increase indicates the potential for growth of the coin, although it had a recent decline. The upward trend has garnered significant attention from investors, and it continues to show promising potential.

Alpha Crypto Signal, a crypto analyst, highlighted that ASTER had a probability of another rally. The coin has connected the two sides on the 1D chart and is currently evaluating one of the significant demand zones. It is critical to have price support beyond this point to sustain a positive momentum. A 4-hour close could suggest a long entry into the market, pointing towards potential high targets ahead.

Source: X

ASTER Hits Bearish Pressure, Trading Below Key Moving Averages

Furthermore, another analyst, Gemxbt, also mentioned that there was a bearish trend in ASTER. The coin is trading lower than the 5, 10 and 20 period moving averages, indicating decreased purchasing momentum. 

The Relative Strength Index Nas (RSI) is below 50, which implies that the market does not have a bullish trend. The MACD is also staying below the signal line, further pushing down. The support is observed to be around $1.80 whereas the resistance is $2.20.

Source: X

Also Read: Will HypeCoin(HYPE) Outperform August’s $50 Peak in September?

Open Interest and Trading Volume Decline, Indicating Market Slowdown

According to CoinGlass data, ASTER trading volume has declined by 16.85% and currently stands at $6.95 billion. Open Interest also decreased by 1.60% to $1.16 billion. The OI-Weighted Funding rate is currently at 0.0555%, indicating a slowdown in the coin’s activity within the market.

Source: CoinGlass

Although ASTER faces short-term difficulties, its impressive weekly growth reflects its potential. Analysts feel the coin hasn’t yet fallen and will still provide upward profits, while others believe there will be further falls in the future. This will require the investors to observe the most critical supports and resistance levels in order to tell the future of the coin.

The recent performance of the token suggests that it may maintain a bullish trend moving forward. Nevertheless, the coin will need to break major levels of resistance to resume its rising pattern. The coming days will be decisive in determining whether ASTER will be in a position to move out of its recent losses or incur additional losses.

Also Read: XRP Market Shows Uncertainty but Bullish Sentiment Builds Toward $3.20