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- ASTER surged 350% in four days, hitting $2.43 before correction.
- Technical indicators (RSI, MACD) signal continued bearish momentum.
- Price could drop to $1.29 before stabilizing, aligning with Fibonacci support.
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Aster (ASTER) captured crypto headlines in late September with an extraordinary surge, but the rally may not have lasting legs. After skyrocketing 350% in just four days, ASTER now faces a critical correction, leaving traders wondering whether the bullish trend is over.
ASTER Price Explodes, Then Falters
The ASTER rally began on Sept. 20, culminating in an all-time high of $2.43 on Sept. 24. The sharp price increase sparked widespread excitement, with investors rushing to catch the momentum.
However, the bullish momentum quickly faded. ASTER broke below its ascending support trend line, signaling the end of the initial surge. The token then slid over 30% to a low of $1.70 on Sept. 28, now trading inside a descending parallel channel. Efforts to rebound this week have struggled, as the coin hits resistance within the channel.
Indicators Point to Bearish Momentum
Technical analysis further underlines the caution. The Relative Strength Index (RSI) sits below 50, suggesting weakening momentum, while the MACD has made a bearish cross. Based on the hourly chart, ASTER appears poised to decline toward the channel’s support around $1.40, indicating that the bullish phase is likely over for now.
Wave analysis supports this outlook. Following the all-time high, ASTER completed a sideways Wave B, pointing to one more leg down. If Waves A and C align in length, the token could bottom near $1.29, coinciding with the 0.618 Fibonacci retracement and channel support—commonly seen as a strong bottoming area.
What’s Next for ASTER Investors
Short-term traders should remain cautious. Unless ASTER breaks out of its descending channel, the immediate trend remains bearish. The correction phase appears set to continue, potentially testing the $1.29 level before any reversal can take hold. Long-term investors may see this as a buying opportunity, but timing will be crucial.
ASTER’s explosive rally has ended its short-term bullish run. Technical indicators and wave analysis both point to further declines before a potential stabilization. Investors should watch the $1.40–$1.29 range closely for signs of a trend reversal.
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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: Aster Surges Past $2B TVL — Is Binance’s CZ Secretly Behind It?
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.
