- ASTR can reach $0.10 in 2023.
- This token is currently trading at $0.05. It witnessed a rise of 0.20% in the last 24 hours.
- The token is 83.2% down from its all-time high and 74.12% above the all-time low.
ASTR is the native token of the ASTAR Network. ASTAR helps developers to build applications that are decentralized (dAPPs). It also provides layer-2 solutions in the Web 3.0 ecosystem. The goal of the ASTAR network is to become a smart contract platform that supports layer 2 solutions and blockchain. It works on the Polkadot ecosystem.
Sota Watanabe founded the ASTAR network in 2019. He was featured on the list of FORBES Under 30 in Asia 2022.
ASTR has the potential of reaching $0.10 in 2023. The token’s all-time high was recorded on 10th April 2022 when it was priced at $0.33. The token reversed to a bearish trend from that level and made an all-time low of $0.03. Now, the token is trading at $0.056.
The ASTR coin is trading with a volume of $12.5 Million with a circulating supply of 5,124,265,067 ASTR tokens. The volume has increased by 14.11% in the last 24 hours.
The Market Capitalization Of The ASTR Token Is $28 Million.
TECHNICAL ANALYSIS (WEEKLY)
SOURCE: Tradingview
As we can see in the chart, the token went down from the $0.10 resistance in Feb 2023 to $0.032. Now, the coin is almost 70% above that low. That level of $0.03 is acting as a support. We are currently trading in the middle of the highs and lows of 2023.
The price can go bearish if the token breaks the support of $0.03. The price is now approaching $0.08. For a bullish momentum, the price needs an immense volume at that resistance. Thus, it can break that resistance and reach the $0.10 level.
The Relative Strength Index (RSI) is at 51.84 and the SMA 14 is at 47.71, which shows the levels as neutral. The RSI can bounce from the SMA 14 if the price moves upward with a good volume.
The Moving Average Convergence And Divergence (MACD) indicates a bullish move in the price. The blue fast line crossed above the red slow line. The histogram also shows a sizable inflow of the volume of the token. The blue line will soon cross above 0.
Technical Analysis (Daily)
The daily chart indicates a bearish movement. The candle on 24th Aug 2023 formed a spinning top candle at the top. It is a bearish reversal. Both the indicators are also in favor of the bearish momentum. The RSI is below neutral level and MACD is showing a decreased volume in the histogram.
Conclusion
The price is in a bullish scenario in the weekly timeframe because the MACD is also indicating an upward movement. The RSI is also above the neutral level of 50. In the daily time frame, we can see a bearish scenario. If the bullish scenario occurs, the price will bounce from $0.05 and move upwards.
TECHNICAL LEVELS :
SUPPORT – $0.03
RESISTANCE – $0.08 AND $0.10
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
