- ASTER forms a falling wedge near $0.97 where historical patterns suggest that short-term reversals often start before new rallies.
- The $0.9245 to $0.8450 range has triggered past recoveries with traders watching for price stability above $0.97 support.
- Analysts expect a breakout toward $1.19 if the wedge pattern holds and selling pressure begins to ease across this zone.
ASTER (ASTERUSDT) is approaching a critical price area that could determine its next major move. According to a chart shared by analyst EmijoapTurbo, the token has entered a descending wedge formation that typically signals a potential reversal. The current price stands at $0.9707, down 2.25% for the session.
The setup indicates tightening consolidation within a narrowing pattern, with visible lower highs and lower lows since early October. Historical performance suggests that similar formations have triggered upward movements once price action touches the lower support boundary. On the four-hour chart, ASTER now trades near the key demand zone marked between $0.9245 and $0.8450.
This range represents the zone where buyers previously entered aggressively, sparking rallies toward the $1.19 and $2.27 resistance levels. Market participants are closely monitoring this area to see if history will repeat.
Chart Structure Points to Potential Upside Breakout
The falling wedge on ASTER’s chart is clearly defined, bounded by descending trendlines converging toward late October. Analysts at Ccoiners have shared similar views on both X and Telegram, noting that this structure has “produced strong reactions multiple times.” Two upward projection arrows drawn on the chart suggest a possible recovery toward the $1.19 resistance zone.
The upper boundary of the wedge aligns with a long-term supply level that has rejected multiple recovery attempts since early October. However, a successful breakout above this trendline could accelerate buying activity and push ASTER toward $1.70 or higher. Such a breakout would confirm that sellers have lost control, allowing the market to regain positive momentum.
Volume patterns also appear consistent with the early stages of a trend reversal. Declining sell-side pressure within a contracting range often precedes a breakout, especially when supported by prior demand reentry points. The horizontal black line near $0.97 now acts as the immediate pivot level that could determine the direction of the next move.
If price action closes above this mark with volume confirmation, analysts expect the first major upside test to occur near $1.1966. The resistance at $2.2791 remains the secondary target if bullish momentum sustains through November.
Market Sentiment Awaits Confirmation of Reversal
The ongoing decline from October’s peak has drawn significant attention among retail traders and technical analysts. EmijoapTurbo noted that this particular formation “has given more accurate reactions than expected” in previous setups. This observation strengthens the case for a possible short-term rebound once ASTER stabilizes above its local base.
The token has declined steadily since hitting $3.00 in late September, losing nearly 67% over the last month. Despite the drop, structural support zones remain intact, suggesting that capitulation may be nearing completion. Each time ASTER has approached this range historically, buyers have managed to defend it and trigger measurable upward swings.
With prices oscillating around $0.97, a key question now arises: will ASTER repeat its earlier rebound pattern or extend the decline into November?
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed