ASTR price prediction has turned bullish for 2024 and suggests a rise in the short run as well as in the long run. It forming a bullish continuation pattern and marching toward the Year-till-date high.
Recently, the Astar price shot up 29% in a single day and broke out of the $0.0900 hurdle. It grabbed the attention of the investors and triggered the positive sentiment.
Both, 50-day and 200-day EMAs are pointing north and price sustaining above the EMAs indicates an uptrend. However, the price looks mildly overstretched and gone far away from the 50-day EMA. So, a short-term correction or a narrow-range consolidation is possible.
The chart pattern of ASTR crypto is bullish and the presence of buyers is visible. The trading volume is in an increasing phase and the price is also following the same direction. It indicates that the big players are injecting money and expecting the rally may continue in the coming months.
The Astar coin price is currently trading at $0.1055 with an intraday downtick of -1.86%. In the last 24 hours, the trading volume surged by 101% and the volume to market cap ratio stands at 0.1571.
Will ASTR Price Perform Well in January 2024?
ASTR price rose 34% last week and rewarded the short-term investors. The buyers look more aggressive and they are trying their best to take control of the YTD supply zone.
If the buyers succeed in breaking out of the $0.1200 barrier with a high volume then the next phase of rally may trigger. However, the question is how much upside is possible in January if a breakout is visible.
The analysis suggests the YTD breakout might fuel the momentum and the price may show a rise of approximately 20% to 30% in a short period.
Is the Rally in Astar Price Sustainable?
The recent rally in Astar price looks reliable and sustainable. The bulls are active near the EMA support so any minor downfall might be an opportunity to build fresh longs at a reasonable price.
However, if the situation reverses and the price slips below the 50-day EMA, sellers may come forward and demand will be at risk. By analyzing the price behavior and chart pattern, it can be said that the probability of a $0.1200 breakout is high.
Conclusion
ASTR price prediction has turned bullish and suggests it might perform well in January 2024. The bulls are dominating and trying to take control over the YTD high supply zone.
The analysis suggests if buyers succeed in breaking out of the YTD high, then it will be an indication of the beginning of the bull run.
Technical levels
- Resistance levels: $0.1200 and $0.1400
- Support levels: $0.0735 and $0.0581
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
Source: https://www.thecoinrepublic.com/2023/12/25/astr-price-rose-34-is-it-the-beginning-of-bull-run-in-astar/