ASTR price prediction says the uptrend in this crypto may continue and bulls may lead the rally. It took support near to the $0.1200 and reversed upward, which is supported by a decent volume.
The recent bounce in Astar crypto looks reliable. So, the participation of new investors may be visible soon. The chart structure of this coin is highly bullish and no sign of weakness is visible. The buyers are present near to $0.1200 level and succeeded in defending the demand zone.
ASTR crypto price shot up 13% in the last trading session and formed a bullish hammer candle. It indicates that bulls are strengthening their grip and are likely to push the price to a new high.
The 50-day EMA is acting as an immediate support for the bulls. It seems like the short-term correction has taken a halt and the time for reversal has arrived. It will be interesting to see whether the buyers can give the follow-up momentum or not.
Presently, Astar price is trading at $0.1464 with a one-day uptick of 1.04%. Moreover, the volume-to-market cap ratio is at 0.1366, denoting liquidity is high.
ASTR Price Respected the Demand Zone; What’s Next?
ASTR price is in the bulls’ grip and buyers are trying to hold the recent gains. If the positive momentum continues and the price goes beyond the $0.1905 level, then 20% to 30% more upside can open.
Till the Astar crypto holds the previous day’s low placed at $0.1127, the bulls are likely to continue its dominance. Therefore, investors should take a calculated risk and look to play long bets.
The analysis suggests this coin might perform well in January 2024 and reward its investors in the coming months.
Why Does Astar Crypto Need Fresh Buying?
Astar crypto needs fresh buying to hold the gains and to give the follow-up. The weekly time frame chart also tells us the same story. It also suggests buyers are active but it’s important to give follow-up to reach new highs.
However, for any reason, if the price faces rejection from the supply zone, the coin may spend time in the consolidation phase. Aggressive traders can take the risk and build a bullish position because the winning probability seems to be high.
Conclusion
ASTR price prediction says bulls may lead the upcoming rally and might push the price to new highs. After analyzing the price chart of Astar crypto, it can be said that the correction has halted and time for upward reversal has arrived.
Technical levels
- Resistance levels: $0.1905 and $0.2200
- Support levels: $0.1125 and $0.0799
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.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
Source: https://www.thecoinrepublic.com/2024/01/09/astr-price-analysis-has-the-correction-halted-in-astar-token/