After ASTER's price spiked to its all-time high of $2.4 on September 24th, it has been in a downtrend since then, trading around $1.0, almost 60% down from that peak. While the sharp fall might have caught many by surprise, the market dynamics may be shifting.
A crypto analyst known as Crypto King on X has identified a potential reversal forming precisely where support has held firm. The ASTER token exhibited a recognizable pattern for many traders: a strong rally, followed by a steep correction, and then a prolonged period of consolidation.
Once the price reached $2.4, selling pressure intensified, pushing the token down to the $1 region. The chart shared by Crypto King illustrates a consistent decline under a sharp downtrend line that has been in effect for most of October.
Every attempt at a bounce encountered resistance, confirming that sellers were in control of the market. However, as the token approached $0.92, the downtrend began to lose momentum. The price candles started to flatten, and volume spikes indicated a return of buying interest. It is often at this stage that market sentiment begins to shift.
Signs That ASTER Token Might Be Setting Up for a Breakout
Crypto King's analysis points to a critical juncture for the ASTER token. On his chart, the price has touched the lower support zone and has begun forming what he described as a "manipulation" phase—a deceptive breakdown intended to precede an upward reversal. This type of price action is common when markets aim to shake out less committed investors before a genuine upward movement begins.
The subsequent phase, labeled "distribution," suggests a potential retest of higher levels, approximately between $1.4 and $1.6. If the ASTER price can sustain these gains, the setup could trigger a breakout above the downtrend line. The key target indicated on the chart is near $2.43, aligning with the previous resistance level from September.
The $1 region serves as both a psychological and technical base for ASTER. Each time the price has tested this level, buyers have stepped in, indicating a clear area where market participants perceive value. A decisive move above the trend line could transform this support into the foundation of a new bullish structure.
Crypto King's concept of an "expansion" phase illustrates how momentum could accelerate once price clears resistance levels. If this pattern unfolds as projected, the ASTER token could potentially double from its current levels and revisit the $2.4 area. While future price movements are never guaranteed, the chart structure suggests that this point in the cycle is significant.
Could ASTER Be Near Its Next Major Move?
Shifts in momentum within the cryptocurrency market often occur subtly before becoming widely apparent. The observable signs on the ASTER chart—steady support, diminishing selling pressure, and a clear technical structure—all suggest a potential turning point. A move from $0.92 to above $1.2 would strongly indicate that the downtrend has lost its steam.
Crypto King's projection of a rally toward $2.43 is a plausible outcome if the identified pattern continues to develop. The market primarily requires a confirmed breakout above the trend line to validate the reversal. For the time being, patience may prove beneficial as ASTER stands at a crucial crossroads.