Aster (ASTER) has recorded a 6% increase over the last 24 hours, with trading volume rising by 75% according to CoinMarketCap. Bitcoin (BTC) is successfully holding the support level at $83K, preventing sellers from pushing below $82K, although they are potentially ready to move below $80K. Bitcoin's resilience has helped altcoins stabilize their positions. The market capitalization of altcoins, including Ethereum, has remained in the range of $1.14 trillion to $1.15 trillion over the past week.
In July and most of August, ASTER did not exhibit a strong trend: consolidation was followed by bullish expansion, but at the time of publication, the long-term trend was still not bullish. According to the three-day chart, $0.403 and $0.813 are swing levels from the beginning of the year, significant for the current bearish structure. A candle close above $0.813 is needed for a reversal; until this occurs, long-term traders may maintain a cautious bearish outlook. Despite the increase in trading volume, September volumes on three-day charts barely exceeded the 20-period moving average, causing the A/D indicator to fail to rise above.
The DMI indicator shows that a bullish trend is developing, but a session close above $0.813 could still confirm bullish strength. Traders should monitor the range: the bullish movement in August was followed by a formation between $0.67 and $0.81. The price increase over the last 24 hours has lifted ASTER above the resistance level at $0.74. Technical indicators also confirm bullish momentum and increased buying pressure on the four-hour chart. Traders can expect a sustained move back to the upper boundaries of the range, and a breakout above $0.813 will signal a change in the long-term trend.
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