- 1
Astar (ASTR) price is up by 2.59% in the past 24 hours and is currently trading at $0.06. - 2
Astar (ASTR) price is trying to sustain above the key moving average of 50-day EMA. - 3
ASTR price forms a bullish pattern over the daily chart.
The daily charts show that the ASTR price seems to form a bearish flag pattern and is maintaining the price in the band. The price is moving higher with the sellers resisting at the upper limit and the buyers supporting at the lower edge.
The technical indicators imply that the buyers are dominating in the short term and taking support from the 50-day moving average. The RSI has been in the upper zone indicating the strength of the buyers. The ASTR token will need more buyer support to protect previous lows.
Astar Network is a Web3 platform enabling developers to create dApps and Layer-2 solutions with interoperability. The crypto holds a market cap of $310.5 Million with an increment of 0.81% in the last 24 hours.
Astar Price Forms Bearish Flag Pattern
The Astar crypto price is currently trading at $0.06 with an intraday gain of 2.59% and consolidating in a range at the moment.
The short-term outlook of the price trend states that the price got support from the 200-day EMA and it may surge to the upper boundary of the channel pattern.
The volume analysis shows that the ASTR token has a daily volume below the average volume indicating some weakness. The crypto has a 24-hour volume of $18.24 Million with an increment of 109.1% in the past 24 hours. The volume-to-market cap ratio is 5.89% indicating mild volatility in the market.
Technical Indicators Showing Strength Over the Daily Chart
MACD lines are showing a bullish crossover. The histogram bars are also being formed above the mean line indicating the ASTR crypto price might get more buying volume at CMP.
The EMA analysis shows that the ASTR crypto is rising, taking multiple support from the 50 EMA and 200 EMA indicating the presence of the buyers at the lower levels.
At the time of publishing, the RSI value of the ASTR token is 54.9 and that of the SMA line is 49.2. RSI is headed upwards taking support from the SMA line indicating the buyer’s dominance at the moment.
Conclusion
The ASTR price is forming a bearish flag pattern and trading within the channel. The buyers are dominating in the short term and taking support from the 50-day moving average. The ASTR token needs more buyer support to defend previous lows. The crypto has a market cap of $310.5 Million and is trading at $0.06 with an intraday gain of 2.59%. The volume-to-market cap ratio is 5.89%.
Technical Levels
- Support levels: $0.049 and $0.042
- Resistance levels: $0.067 and $0.077
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/09/12/astar-price-prediction-will-bulls-make-a-comeback-in-astr/