Aster Eyes Breakout as Bulls Push Toward New High

$ASTER may reach new highs after breaking its descending channel, showing bullish momentum and strong buying interest from investors.

The coin surged 380% from 0.50 to 2.40 USDT, then corrected, forming support near 0.90-1.00 USDT and a potential rounded bottom.

Analysts see potential targets at 1.94 USDT short-term, with buybacks exceeding $50M boosting confidence for a future rally.

Aster ($ASTER) appears ready for a significant rally as bulls target a new all-time high, according to multiple analysts on X. The cryptocurrency has been trading within a descending channel since late September

Captain Faibik highlighted that if the channel breakout confirms, Aster could reach new heights in the coming days. “$ASTER looks Ready for a Massive Bullish Rally. If Channel Breakout confirms, we can expect a new All-Time High… C’mon Bulls, send it to Valhalla!” he noted.

Source: Captain Faibik

The ASTR/USDT daily chart shows the token surged from roughly 0.50 USDT to 2.40 USDT between mid-September and early October. This initial surge represented nearly 380% gains. However, following this peak, the price entered a downtrend marked by lower highs and lower lows. Both upper and lower channel boundaries contained price action through October and early November, creating a prolonged consolidation phase.

Current Momentum and Resistance Levels

Support emerged near the 0.90-1.00 USDT zone in early November, prompting buyers to return. Since mid-November, price momentum has shifted upward. Currently, Aster trades around 1.20 USDT and is testing the descending channel resistance near 1.10-1.20 USDT. Analysts use the measured move technique to project a potential target near 1.94 USDT, which remains below the previous October high of 2.40 USDT.

Moreover, volume trends show declining activity during the downtrend, but recent candles reflect increasing buying pressure. Analyst Momin added, “$ASTER officially broke out of its legacy resistance trend line! Its been performing exceptionally well against broader market… New ATH incoming, $4.” This statement underscores strong market sentiment supported by over $50 million in buybacks.

Sjuul also noted the potential for further gains, observing a possible rounded bottom formation. “The more I look at this chart, the more I feel $ASTER is forming a huge rounded bottom. This pattern can be misleading… But if we get a proper breakout, we could have a good opportunity for expansion!”

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