Aster token price is approaching the $1.20 support zone, where a potential double-bottom formation could emerge if price revisits and holds this level amid ongoing market weakness.
Summary
- Price is moving toward $1.20 support, not yet tested.
- Double bottom reversal may form once the level is reached.
- Successful rebound could aim for $1.83 and $2.20 resistance zones.
Aster’s (ASTER) price action is retracing toward the $1.20 support region after facing rejection from the value area high. The market has not yet reached this support, but the ongoing structure suggests that price is targeting this level to establish a potential double-bottom formation.
Aster token price key technical points
- Support Target: Price is targeting $1.20 support, which has previously acted as a strong reaction zone.
- Potential Formation: A developing double bottom setup may confirm once price reaches and rebounds from $1.20.
- Upside Objectives: Successful reversal could lead to tests of $1.83 and $2.20 resistances.
Aster recently rejected the value area high, showing clear resistance within a high-volume region that capped previous upside attempts. The rejection triggered a gradual retracement, and price is now heading toward the $1.20 support target. This level has historically served as a key demand zone, aligning with a potential accumulation region where buyers may look to re-enter the market.
While the double-bottom pattern has not yet formed, the market is positioning for it. For confirmation, Aster would need to test the $1.20 level, establish a bounce with clear volume influx, and produce higher lows on the lower time frames. Until these conditions are met, the structure remains a developing setup rather than a confirmed reversal.
The next move into $1.20 will be critical. If volume supports a strong rebound, price could rotate back toward $1.83, the nearest higher time frame resistance. A breakout above $1.83 would strengthen the bullish bias and open the probability for a continuation rally toward $2.20. Conversely, if price breaks below $1.20, it would invalidate the potential double bottom and signal further consolidation at lower levels.
From a structural standpoint, Aster remains within a corrective phase following the rejection from resistance. The move toward $1.20 is a retest of higher time frame support, not a sign of breakdown.
Volume will also be a key confirmation factor once $1.20 is reached. An increase in bullish inflows and strong candle closes would validate the formation of a double bottom. Conversely, low volume and indecision around this level may prolong consolidation.
What to expect in the coming price action
Aster’s short-term outlook remains neutral while price gravitates toward $1.20. A confirmed rebound from this level could form the base of a double-bottom structure, leading to a rotation toward $1.83. Sustained buying above this resistance could extend the rally to $2.20, reinforcing a mid-term bullish trend.
