ASTER Analysis: bears test support as momentum weakens this week

The ASTER cryptocurrency is facing bearish pressure this week, as the market momentum weakens and bears test key support levels. At 1.01 USDT, ASTER is trading well below its 20/50/200 EMA (1.17/1.46/1.86), confirming the bearish trend and suggesting that any rallies may face significant selling pressure.

The technical indicators paint a gloomy picture for ASTER investors. The Relative Strength Index (RSI) sits at 36, below the neutral 50 level, indicating that sellers still hold the upper hand. On the MACD (Moving Average Convergence Divergence) chart, the line (-0.16) is barely above the signal (-0.18), and the histogram is at a mere +0.03, signaling a loss of momentum from the bears but not a complete trend reversal.

ASTER's price action is also cause for concern, as it hovers under the Bollinger mid-line (1.10) and closer to the lower band (0.90), suggesting ongoing selling pressure and the potential for a mean reversion. The Average True Range (ATR) at 0.15 USDT indicates moderate volatility, emphasizing the importance of risk management for ASTER traders.

Looking ahead, the daily pivot point (PP) is at 1.09, with resistance (R1) at 1.18 and support (S1) at 0.93. These levels are likely to steer the market's reactions in the near-term, and crypto investors should closely monitor ASTER's performance to capitalize on any potential opportunities or mitigate risks.