The cryptocurrency market is starting the new month on a steady note, with Bitcoin (BTC) and Ethereum (ETH) both trading in green. Some altcoins are following the positive sentiment — including the decentralized exchange token Aster (ASTER), which is showing fresh signs of recovery after recent declines.
ASTER is trading higher today, up by 7%, and more importantly, its chart is now forming a bullish technical structure that may set the stage for an upside breakout in the coming sessions.
Descending Broadening Wedge Pattern in Play
On the 4-hour chart, ASTER has been trading within a descending broadening wedge, a pattern that generally appears during a downtrend and signals the potential for a bullish reversal once price breaks to the upside.
During the latest pullback, ASTER briefly dipped to test its lower boundary support near $0.8539, where buyers stepped in to defend the level. Since then, the token has begun to rebound, climbing back toward $0.9960.
The price now hovers close to the upper boundary of the wedge, where the price action is tightening — a common precursor to strong directional moves.
Adding to this setup, ASTER is also trading just below its 100-period moving average (MA) near $1.11, which currently acts as immediate resistance. A decisive reclaim of this level would strengthen the bullish breakout scenario.
What’s Next for ASTER?
If buyers maintain control and push ASTER above the upper wedge trendline, followed by a close above the 100 MA, the token could gain strong bullish momentum. A confirmed breakout could open the door for a rally toward $1.37 — representing a potential 38% upside from current levels.
However, if ASTER faces rejection from the wedge’s upper boundary, it may enter a short consolidation phase, with $0.94 acting as an important support zone to monitor.
For now, the chart setup remains constructive. With the broader crypto market showing signs of slight strength, ASTER could soon be among the altcoins leading the next wave of upward momentum.