ASTER News: ASTER Eyes Breakout Targets After Defending Fib Confluence Zone

ASTER shows bullish potential. It defends a key support zone, eyeing breakout targets at $1.471, $1.651, and $1.819 if momentum builds.

ASTER is currently showing bullish continuation potential. Indeed, ASTER is respecting its ascending channel. It is pulling back into a key support zone. This is also in line with a Fibonacci confluence.

ASTER Defends Key Support, Bullish Momentum Expected

If buyers can successfully defend this important area, the price could launch significantly. It could move towards $1.471, $1.651 and an extended target at $1.819. The overall structure is still bullish. Traders are now simply waiting for the momentum to hit.

The price of the Aster (ASTER) cryptocurrency is trading at 1.12. This is done on the basis of dynamic market situations. According to CoinMarketCap data, the value is currently ranging between $1.08-$1.20. The daily trading volume is more than $530 million USD. Market capitalization is around $2.81 billion USD.

If momentum is maintained beyond the first resistance, more targets are forecast. These are in line with the previous structural highs. They also align with the boundaries of channels.

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A target of $2.90 is identified. This level is a possible target. This occurs after an established breakout. This has to be done above equilibrium resistance.

Making the move successfully and on a sustained basis can lead to a test. This would be the next significant liquidity cluster. It could also retest all-time highs. One analysis makes reference to a possible move. This could reach the $3.40 to $4.40 range. This however is in a different context.

Key Observations Signal Potential Explosive Expansion for ASTER

There was a strong bounce from the Fibonacci level. VWAP support gave strength as well. This is a sign of strong demand. This is within the $1.20 – $1.65 range.

In addition, price action has formed an equilibrium. This is also known as a pennant structure. This is often preceded by an explosive expansion move. This happens when breakout confirmation is achieved.

ASTER shows bullish potential. It defends a key support zone, eyeing breakout targets at $1.471, $1.651, and $1.819 if momentum builds.
Source: TradingView

Volume and Confirmation are very important. Traders focus on a clean close above resistance on a daily basis. This has to be accompanied by volume confirmation. This validates the breakout. And it also helps avoid possible traps.

However, traders are advised to follow closely on price action. They also have to manage risk effectively. Failure to support important support levels could invalidate the bullish structure entirely. For more detailed analysis, visit the latest ASTER trade ideas on TradingView. This helps to provide comprehensive insights.

What is critical is the defence of the present support zone. In addition, it helps set the stage for ASTER’s next possible price path. The market is waiting for buying pressure. This will confirm the bullish outlook. Continued vigilance is important to traders to avoid losses in crypto.

Source: https://www.livebitcoinnews.com/aster-news-aster-eyes-breakout-targets-after-defending-fib-confluence-zone/