The Aster price surge rocked the market, increasing its market cap by 10.5% to $2.39 billion. Despite a 10.47% correction in 24 hours, trading volumes are high, fueling speculation of a rally towards $1.23 or a potential correction trap amidst talks of Coinbase integration. Traders are divided.
Aster ‘s trading volume has literally exploded over the past 24 hours, recording $877.46 million, representing a spectacular increase of 59.27% compared to the previous day. This intense activity demonstrates a marked renewed interest from both institutional and retail investors.
Three catalysts explain this sudden enthusiasm. First, token buybacks surged by 50% over the past day, reaching a pace of $7,500 per minute. This deflationary strategy removed approximately 2.4 million ASTER tokens from the market, representing nearly $2.8 million, or approximately 0.12% of the circulating supply. This mechanical supply reduction creates natural upward pressure on the price.
Second, speculation around a potential ASTER listing on Coinbase’s roadmap is circulating persistently within the crypto community. While no official confirmation has been provided, this type of rumor is typically sufficient to trigger significant speculative movements.
Third, the decisive breakthrough of the psychological threshold and POC at $1.10 represents a major technical signal. This resistance had been blocking upward attempts since early November. Its transformation into potential support radically changes the short-term dynamics.
Aster’s technical analysis reveals a contrasted picture that divides analysts. The token now trades above its key pivot at $1.10 and its 7-day moving average at $1.08, establishing a short-term bullish configuration. The MACD just turned positive with a histogram at 0.027, confirming the emergence of buying momentum.
The transformation of the $1.10 zone from resistance to support constitutes the most significant technical point of this configuration. Historically, when a major resistance level breaks and then reverses into support, it often validates a new bullish trend phase. Experienced traders closely monitor the price’s ability to defend this level during upcoming retests.
The target of $1.36 appears realistic within a 3 to 7-day window, provided the current momentum is maintained. However, one alert point remains: trading volume remains 44% below the weekly average. This divergence between price action and volume suggests the rally could lack fuel if new buyers don’t intervene quickly.
The tightening of the Bollinger Bands indicates that a strong movement is approaching. And the buyers’ takeover therefore points more toward bullish explosiveness in the coming days.
If momentum were to weaken, several technical support levels would come into play. The first point of vigilance is around $1.06, which would correspond to a moderate decline. The massive buybacks underway and the generally constructive market sentiment suggest that a major correction remains unlikely at this stage.
However, a more pessimistic scenario cannot be totally ruled out. If volume continues to decline and MACD histograms turn negative, prolonged weakness could push the price toward the $0.93 zone. This level would correspond to a deeper retracement requiring a complete reassessment of the bullish thesis.
A violent rejection below this level with significant volume would constitute a serious warning signal for long positions.
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Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
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