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Aster Price Prediction: ASTER Likely Headed to $5 as Bullish Sentiment Grows

Highlights:

  • Aster has broken out bullish after a brief consolidation
  • Breakout puts Aster on course to hit $5 short-term
  • A confluence of bullish factors could soon send Aster to $5 or higher.

Aster (ASTER) is one of the top-performing cryptocurrencies today. In the last 24 hours, Aster has gained 38% to trade at $2.27. This brings Aster’s total weekly gains to an impressive 2601.9%. Despite this parabolic price move in only a few days, investor excitement around Aster remains strong. 

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This is evident in Aster’s trading volumes on the day. In the last 24 hours, Aster trading volumes have shot up by 43.31% to stand at $3.04 billion. This indicates that investors expect Aster to perform even better going forward. Several factors are driving the bullish sentiment around Aster recently, which could see it rally to even higher prices going forward. 

Analysts Giving Bullish Projections for Aster

One of them is the analysts’ sentiments about Aster. Analysts drive market sentiment and can be a source of FUD or FOMO in a cryptocurrency. Analysts are hyping Aster up, especially as a cryptocurrency that is increasingly a favorite of institutional investors. For instance, some analysts have noted that the strong performance that Aster has recorded so far has nothing to do with retail but is a purely institutional play.

Such sentiments are based on metrics like the Smart Money Index and the Elder-Ray indicator. Analysts note that these two metrics have recently turned bullish, coinciding with Aster’s recent price rally of over 2000%. Based on these two indicators, some analysts argue that Aster could be up for another 6x rally from its current price. Such projections, and the idea that institutions have their eyes on Aster, could keep the FOMO going into the future. It is a factor that could send Aster prices as high as $10 in the short term.

Binance Could Soon List Aster

Aster is also gaining momentum from the fact that its impressive price run has come without it being available on major exchanges. Since it is now among the top 50 cryptocurrencies by market cap, the odds are high that top exchanges could start listing it. There is growing speculation that Aster could soon be listed on Binance.

Given that Binance is the largest exchange in the world by volume, a listing could draw in huge retail capital into Aster. The result would be a price rally that could send Aster to prices as high as $10 in the short term. However, even before the Binance listing, the expectations around it will likely keep the momentum strong going into the near term. 

Aster Positioned In A Competitive Market

Aster is also drawing excitement from its position in a market that has shown strong growth recently. It is competing with Hyperliquid, a cryptocurrency that has recorded strong, consistent growth since it hit the market. Investors are optimistic that due to the yield-bearing nature of the Aster decentralized exchange, investors are likely to keep FOMOing into the Aster token. The result is that the momentum built up so far could see Aster rally to new highs in the short to medium term.

Technical Analysis – Aster Breaks Out After Brief Consolidation

Aster is in a breakout, after a brief consolidation between $2.09 and $1.94. This is an indicator that bullish sentiment is on the rise. If the bulls sustain the momentum built up so far, then a rally to prices as high as $5 could be hit in the short term. 

ASTER
Source: TradingView

On the other hand, if bulls lose momentum due to short-term profit-taking, then a correction to $2.09, now support, could follow. Of these two scenarios, a continuation of the rally to prices as high as $5 is more likely. That’s because of the buildup of FOMO around it in the short term.

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