The Aster token has shown remarkable bullish momentum since the Double Harvest initiative launch. Chartists are eyeing a promising technical pattern that could trigger a parabolic move. The burning question remains: Is $1.35 a realistic short-term target?
Technical analysts are closely monitoring the emergence of a cup and handle pattern on Aster charts. This chart formation, particularly valued in cryptocurrency analysis, is characterized by a consolidation phase shaped like a cup followed by a moderate pullback forming the handle. Although the pattern is not yet fully confirmed, its current structure suggests a potential for explosive upward movement.
The cup and handle ranks among the most reliable configurations for anticipating parabolic movements. In Aster’s case, the cup formation has developed gradually with decreasing volume, signaling discreet accumulation by savvy investors. The handle phase still requires a few more days of consolidation before potential validation.
Current support levels are holding solidly around $1.15, while immediate resistance sits near $1.30. A confirmed breakout above this zone could rapidly propel the token toward the $1.35 target. Trading volume remains the determining factor in validating this bullish breakout.
The Double Harvest initiative stands as the primary driver behind Aster’s performance today, massively attracting holders through its yield opportunities and passive income generation. Rising staking rates, growing active wallet numbers, and increasing locked tokens reduce selling pressure and structurally support the price.
From a technical perspective, Aster presents several encouraging signals: a neutral RSI around 55, EMA 20 and 50 in bullish alignment, and price action evolving above its dynamic supports. However, a breakout above $1.35 would require a volume surge exceeding the monthly average by 40 to 50% to avoid a false signal and rapid return to support levels.
For traders, the risk-reward ratio remains attractive, with a stop-loss under $1.15 targeting $1.35, offering a ratio above 2:1. More cautious investors would prefer waiting for complete validation of the cup and handle pattern, an essential condition to confirm sustainable upward continuation.
Related topics:
Passionate about cryptocurrencies since 2019, I cover the latest news through clear and accessible articles. My goal is to make crypto understandable for everyone, with reliable and well-researched content.
DISCLAIMER
This article is for informational purposes only and should not be considered as investment advice. Trading cryptocurrencies involves risks, and it is important not to invest more than you can afford to lose.
InvestX is not responsible for the quality of the products or services presented on this page and cannot be held liable, directly or indirectly, for any damage or loss caused by the use of any product or service featured in this article. Investments in crypto assets are inherently risky; readers should conduct their own research before taking any action and invest only within their financial means. This article does not constitute investment advice.
Risk Warning : Trading financial instruments and/or cryptocurrencies carries a high level of risk, including the possibility of losing all or part of your investment. It may not be suitable for all investors. Cryptocurrency prices are highly volatile and can be influenced by external factors such as financial, regulatory, or political events. Margin trading increases financial risks.
CFDs (Contracts for Difference) are complex instruments with a high risk of rapid capital loss due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should assess whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Before engaging in financial or cryptocurrency trading, you must be fully informed about the associated risks and fees, carefully evaluate your investment objectives, level of experience, and risk tolerance, and seek professional advice if needed. InvestX.fr and the InvestX application may provide general market commentary, which does not constitute investment advice and should not be interpreted as such. Please consult an independent financial advisor for any investment-related questions. InvestX.fr disclaims any liability for errors, misinvestments, inaccuracies, or omissions and does not guarantee the accuracy or completeness of the information, texts, graphics, links, or other materials provided.
Some of the partners featured on this site may not be regulated in your country. It is your responsibility to verify the compliance of these services with local regulations before using them.
