bitcoin
Bitcoin (BITCOIN)
$105,188 -0.01%
ethereum
Ethereum (ETHEREUM)
$3,553 -0.54%
binancecoin
BNB (BINANCECOIN)
$973.06 -0.93%
solana
Solana (SOLANA)
$160.29 -1.96%
ripple
XRP (RIPPLE)
$2.44 -1.03%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000010 0.25%
pepe
Pepe (PEPE)
$0.000006 -0.21%
bonk
Bonk (BONK)
$0.000013 -1.52%
bitcoin
Bitcoin (BITCOIN)
$105,188 -0.01%
ethereum
Ethereum (ETHEREUM)
$3,553 -0.54%
binancecoin
BNB (BINANCECOIN)
$973.06 -0.93%
solana
Solana (SOLANA)
$160.29 -1.96%
ripple
XRP (RIPPLE)
$2.44 -1.03%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000010 0.25%
pepe
Pepe (PEPE)
$0.000006 -0.21%
bonk
Bonk (BONK)
$0.000013 -1.52%
bitcoin
Bitcoin (BITCOIN)
$105,188 -0.01%
ethereum
Ethereum (ETHEREUM)
$3,553 -0.54%
binancecoin
BNB (BINANCECOIN)
$973.06 -0.93%
solana
Solana (SOLANA)
$160.29 -1.96%
ripple
XRP (RIPPLE)
$2.44 -1.03%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000010 0.25%
pepe
Pepe (PEPE)
$0.000006 -0.21%
bonk
Bonk (BONK)
$0.000013 -1.52%
Disclosure
Cryptocurrency trading is speculative and your capital is at risk when you trade. We may earn affiliate commissions from some of the products on this page - at no extra cost to you.
Aster Price Forecast: ASTER Could Rally to $2 as Whales Continue to Accumulate

Highlights:

  • ASTER is trading around the $1.15 resistance
  • A clear break off this resistance could send ASTER to $2
  • Rising whale activity is likely to send ASTER to new highs 

Aster (ASTER) is showing strength on a day when most of the cryptocurrency market is showing weakness. At the time of going to press, Aster was trading at $1.16, up by 7.82% in the day. At the same time, Aster trading volumes are on the rise. They are currently up by 8.36% to stand at $2.35 billion. 

Advertisement

Banner

The rising trading volumes alongside the price are an indicator that money is strongly flowing into Aster at the moment. As such, ASTER could be headed higher in the short to medium term. Several factors support the case for an Aster rally in the foreseeable future.

Whales Continue Accumulating ASTER

One of them is the fact that whales are accumulating Aster. Recently, CZ Binance, the founder of Binance and an influential figure in the cryptocurrency world, announced that he had purchased $2 million worth of ASTER. He also made it clear that he was planning to hold it for the long haul.

Since then, more whales are buying ASTER. The latest to make a move is a whale with the wallet tag, #ThisWillMakeYouLoveAgain, who has bought 8.41 million ASTER tokens valued at $8.14 million. Such purchases are a strong indicator that smart money is accumulating ASTER. This is likely to have a positive impact on the ASTER price in two ways.

First, this rising whale demand is expected to establish a strong price floor for ASTER at $1, which is the average price at which most whales are buying. Second, it is likely to trigger retail FOMO into ASTER in the short to medium term. That’s because the multi-million-dollar purchases, especially by individuals with inside knowledge of the cryptocurrency market, give the impression that ASTER could be the next big thing. A combination of FOMO and whale buys could send ASTER to new all-time highs in the short to medium term.

ASTER Recent Correction From $2 to $1 Attracting Investors

ASTER’s potential uptick is also likely to be driven by the fact that ASTER is trading at a heavy discount compared to its recent highs. Before the recent market correction, ASTER was trading at over $2.

However, the price recently dropped to under $1 before stabilising at around $1. With whales driving confidence, investors aiming for a retest of ASTER’s recent highs are likely to start taking positions, helping to drive the price higher in the short to medium term. 

ASTER Core Fundamentals Getting Better

Besides the whale-driven price dynamics, ASTER stands to benefit from positive fundamental developments. There is growing speculation that more major exchanges are considering listing ASTER..

One of those expected to list ASTER is Coinbase. Such listings would make ASTER accessible to an even broader base of investors. The result would be positive price action for ASTER. There are also reports that ASTER has increased its burn rate to $7500 per minute. This translates to $39 million in recently burned tokens. This enhanced burn rate at a time when demand is on the rise could send ASTER higher going into the future.

Technical Analysis – ASTER Trading At Major Resistance

ASTER is currently trading at the $1.15 resistance after a multi-day consolidation between this resistance and the $1.01 support. If bulls take control and decisively push ASTER through $1.15, then a rally to $2 could follow.

ASTER
Source: TradingView

On the other hand, if there is a correction back below $1.15, then the consolidation between $1.15 and $1.01 could continue. Of these two scenarios, the odds are higher for a rally to $2. That’s because all the whale buying that is happening is helping push the price higher.

eToro Platform

Best Crypto Exchange

  • Over 90 top cryptos to trade
  • Regulated by top-tier entities
  • User-friendly trading app
  • 30+ million users
9.9

5 Stars

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong.

Advertisement

Banner

Advertisement

Banner

Advertisement

Banner