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- ASTER broke out from a descending channel, signaling the end of its correction.
- Key $1.95 resistance must be cleared to reach $3.01 Fibonacci target.
- Rising RSI and wave count confirm a bullish trend for October.
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Aster (ASTER) has quickly captured the attention of crypto investors following a high-profile endorsement from Binance CEO Changpeng “CZ” Zhao in late September. The news fueled a sharp rally, propelling ASTER to a new all-time high of $2.44 by September 25. Although the price has corrected since then, it is now showing early signs of a renewed bullish trend.
Breaking Out of the Correction
After peaking, ASTER entered a descending parallel channel, dropping to $1.51 on October 1. A failed breakout attempt near $1.95 initially held the price back. However, ASTER has remained within the channel and recently bounced off its midline, signaling that the correction may be ending. Today, ASTER broke above the channel and is testing the critical $1.95 resistance area. Technical indicators, including a rising Relative Strength Index (RSI) above 50, suggest the breakout could succeed, potentially pushing ASTER to a new all-time high.
Wave Count and Fibonacci Support Signal Bullish Outlook
Aster’s technical structure reinforces the bullish case. Analysts note the completion of an A-B-C corrective wave, with wave B forming a symmetrical triangle—a pattern that often precedes strong upward moves. Additionally, the correction concluded near the 0.5 Fibonacci retracement support, giving further confidence that ASTER’s upward trajectory is intact. The key hurdle remains the $1.95 resistance. Clearing this level could open the path to the 1.61 Fibonacci extension at $3.01, setting up a potential surge for the remainder of October.
What Lies Ahead for ASTER
The next few days will be critical. If the coin maintains momentum above $1.95, investors could see the cryptocurrency reach fresh all-time highs, marking a continuation of the impressive rally that began last month. Traders and enthusiasts are watching closely as ASTER attempts to reclaim its upward trajectory and capitalize on its growing market attention.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: Visa to Launch Stablecoin in 2025 for Faster Payments
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
