Aster Token Price Forms Double Bottom: Is a Rally to $1.06 on the Horizon?

The Aster token (ASTR) is showing signs of a possible bullish reversal with a double-bottom formation at a significant support level. This pattern raises hopes for a rebound towards the $1.06-$1.09 resistance zone. Key technical indicators suggest that if Aster can maintain above the $0.91 support, a substantial price increase may be on the way.

Key Takeaways

The Aster token has formed a double-bottom pattern at a strong support level.
Historical reactions around the $0.91 mark suggest a potential price increase.
A recovery toward the $1.06-$1.09 resistance level is anticipated.
Sustaining above the $0.91 support is crucial to maintain the bullish outlook.
A successful breach of the $1.09 resistance could set Aster on a path toward $1.36.

Aster price double bottom suggests bullish rally incoming

Aster Token Price Technical Analysis

Aster token price forms double bottom, price targeting $1.06? - 1
ASTERUSDT (12H) Chart, Source: TradingView

The recent double-bottom structure observed in the Aster token price is forming at a crucial technical zone on the chart. The $0.91 support level has acted as a pivotal point in previous market cycles, consistently resulting in upward price movements.

Currently, this support aligns not only with historical trends but also with the value area low, where trading volumes have been high. This combination enhances the likelihood that the recent price stabilization could lead to a broader bullish trend. The market structure surrounding this support also bolsters the double-bottom pattern narrative.

For several days now, the price has remained above the $0.91 mark, strengthening the significance of this pattern. A second successful retest indicates that selling pressure is diminishing, while demand is increasing. Each closing candle above this support validates the setup and suggests a transition from accumulation to potential expansion.

Above the current price, one of the key resistance points is located at the $1.09 level, which corresponds to the point of control (POC) on the volume profile. The POC signifies the price level where the highest trading activity has occurred, often acting as a price attractor during recovery phases. A sustained move above $1.09 would not only affirm the reversal's strength but could also pave the way for Aster to aim for the next significant target of $1.36, representing the value area high.

If this scenario plays out, it may lead to a full rotational movement that aligns with market auction theory, where prices fluctuate between high and low-value zones. As Aster is currently positioned near the lower range of this distribution, it presents an opportune moment for a reversal.

Looking ahead, Aster has ambitious plans for its 2026 roadmap, including launching its own layer-1 blockchain. These developments could further enhance long-term market sentiment as traders monitor price reactions in this region. Historically, rebounds from significantly discounted levels have led to strong rallies in Aster's price. However, it is essential that the $0.91 support holds. A drop below this level could negate the bullish outlook and lead to further price declines.

Future Price Expectations

If Aster can maintain support above $0.91 and successfully breach the $1.09 POC resistance, the momentum is likely to build, with a high-probability target at $1.36. Conversely, failing to hold above $0.91 would invalidate the double-bottom pattern and shift market sentiment back to bearish.