Aster (Aster) has shown a new bullish momentum after regaining the $2 mark, approaching an all-time high of $2.43.
A recent surge in demand has strengthened the altcoin’s position in the market, with traders expecting another step to rise if the positive situation continues in the coming days.
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Aster has some strengths
The relative strength index (RSI) is boosted from over-acquired zones and returns to the positive territory. Usually, when bullish emotions begin to cool down, overbought RSI signals potential pullbacks.
However, in this case, the indicator remains in bullish range, suggesting that Aster’s uptrends have room to expand even further.
This medium correction in RSI could benefit Aster by allowing buyers to re-enter the market. As long as the RSI maintains its current position above the neutral 50 mark, the token may maintain upward momentum and strengthen investor confidence in the ongoing gathering.
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Aster’s wider market momentum is strengthened, with the average Directivity Index (ADX) approaching the key 25.0 threshold. ADX measures the strength of the trend, and a rise above 25.0 confirms the presence of a strong trend. Given that Aster is currently on the upward trend, passing this threshold could amplify its bullish potential.
When ADX exceeds 25.0, Aster’s market structure gains greater stability, indicating that traders are working to maintain the gathering. This confirmation provides further verification of Altcoin’s growing momentum.
Aster Price approaches ATH
At the time of writing, Aster is trading for $2.02 after successfully violating the $1.87 resistance. Altcoin currently suggests it is 17% below its all-time high of $2.43, suggesting that more profits will be within range as market sentiment continues to improve.
The technical setup supports potential climbs as rising momentum and positive indicators could surpass $2.24 resistance. A breakout from this level is likely to drive the token above $2.43, marking the highest ever height and solidifying a bullish trajectory.
However, if investors start to make profits, the downside risk persists. If sales pressure rises, Aster could fall below $1.87 support and below $1.63. Such a decline would negate bullish outlook and pause ongoing uptrends.
