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Amid the latest crypto market bounce, the ASTER token is leading with 10% upside, surging past $1.35 levels. On the technical chart, market experts cite a breakout from the descending channel pattern, which could lead to another 100% rally. If the overall cryptocurrency market stages strong recovery, this upside is very much possible.
ASTER Token Eyes 100% Rally After This Breakout
ASTER token has broken out of its descending price channel, a move typically viewed as a bullish technical signal, as per the latest analysis shared by Captain Faibik. The breakout reveals the potential for renewed upward momentum in the near term, according to market analysts.
As shown in the image above, the breakout could lead to a rally all the way to $2.60. This shows that the bulls were preparing ahead for another major showdown.
Market analyst Mv_Crypto reported that ASTER crypto had completed a strong accumulation pattern on the 4-hour chart. The asset swept its recent lows, reclaimed its full trading range, and converted a key resistance level into support.
The ASTER price was rebounding sharply with increasing volume as it approached the 1.8–2.0 supply zone.
ASTER Token Whale Mints Nearly $4 Million Profit
Blockchain analytics platform LookonChain reported that a prominent ASTER whale, known by the address “ThisWillMakeYouLoveAgain,” accumulated 8.93 million ASTER tokens worth $12.42 million at an average price of $0.98. The investor was holding more than $3.67 million in unrealized gains at the time of writing this report.
In addition to this, a total of 54 million ASTER tokens have been repurchased through the latest wallet activity, following a previous buyback of 100 million tokens. This brings cumulative buybacks to 154 million ASTER.
According to the project’s plan, half of these tokens, approximately 77 million, will be burned, effectively removing around 3.9% of the circulating supply. Analysts noted that the continued token reductions would reinforce ASTER’s shift toward a deflationary supply model.
Other market analysts have also shared a bullish outlook for ASTER tokens. Popular analyst Ardi said ASTER maintained strong upward momentum as the token attempted to break above the $1.40 level.
According to the analyst, the chart is forming a bullish high-and-tight flag pattern, indicating that buyers remain firmly in control.
Ardi added that previous calls on ASTER, despite initial skepticism from some traders, have played out with high accuracy. He highlighted several key setups, including a long position from $1.00 to $2.40, a short from $2.11 to $0.82, and another long from $1.00 to $1.41.
