Aster’s price has been facing significant pressure, struggling to reclaim the $1.00 mark after losing key structural levels. This ongoing weakness has led to multiple daily closes below the low of the value range, effectively turning a once strong support zone into resistance. As a result, the asset’s price remains under pressure near the $1 level, increasing the chances of another capitulation move towards $0.89.
Technical Analysis of Aster’s Price
The price action remains below the low value area and high time frame resistance, with consecutive lower highs and lower lows confirming a continued downtrend. This bearish structure is further reinforced by the presence of a bearish inverted parabola, a situation that often precedes accelerated downward moves or capitulation events. The next logical technical target is around $0.89, which is the last swing low established during the previous correction phase.
Although Aster’s TVL has climbed to $2.15 billion, and XYZVerse has launched its $5.5 million CS2 league, the shift in market structure reinforces the ongoing downtrend. The repeated inability to recapture the $1.00 mark suggests a lack of conviction among buyers, as sellers remain in control of the short-term momentum. In order for sentiment to change significantly, the price must return to this level on a daily closing basis and remain above this level.
Market Structure and Sentiment
Aster’s current market structure is dominated by bearish momentum, with the $1.00 level acting as a key turning point. The low of the value range, previously an area of high trading volume, has now turned into resistance as several daily candles closed below it. This loss of structural support suggests that market sentiment remains cautious, and without a decisive recovery from $1.00, a continuation of the downtrend is becoming increasingly likely.
Additionally, the broader market structure now forms something resembling a bearish inverted parabola, reflecting increasing weakness in price action. Failed recoveries and weak recoveries add additional downward pressure over time, making a break below $0.89 likely to further accelerate the bearish momentum and potentially trigger a capitulation phase before a sustained recovery can begin.
However, reclaiming $1.00 could negate the downtrend and trigger a rally towards $1.20. This would require a significant shift in market sentiment, with buyers regaining control of the short-term momentum. Until then, the downtrend is expected to continue, with the next major support at $0.89 coming into focus.
For more information on Aster’s price and market analysis, visit Crypto.News. The article provides an in-depth analysis of the current market structure and sentiment, as well as insights into the potential future price development.
ASTERUSDT (4H) chart, source: TradingView
Source: https://crypto.news/aster-price-weakness-persists-at-1-00-raising-risk-of-another-capitulation/
