ASTER +34.23% in 24 Hours Amid Mixed Technical Signals

On OCT 8 2025, ASTER rose by 34.23% within 24 hours to reach $2.041, ASTER dropped by 58.14% within 7 days, dropped by 58.14% within 1 month, and dropped by 58.14% within 1 year.

The recent 24-hour gain marked a sharp reversal from the preceding week’s steep decline. While the asset has remained in a long-term bearish trend across 7-day, 30-day, and 365-day timeframes, the overnight surge has sparked renewed attention. Analysts attribute the movement to a combination of short-covering and renewed speculative interest following a failed attempt to break below a key support level. The price closed above the 50-period moving average for the first time in over a week, signaling a potential short-term recovery.

Technical indicators have shown mixed signals. The Relative Strength Index (RSI) moved into overbought territory, while the Moving Average Convergence Divergence (MACD) showed narrowing bearish divergence. A double-bottom pattern is forming on the 4-hour chart, with the neckline currently at $1.987. Traders are closely watching for a decisive close above this level, which could trigger further buying momentum. However, the broader trend remains bearish, with the 200-period moving average acting as a major resistance.

Backtest Hypothesis

A backtesting strategy was applied to assess potential trade setups based on the recent price action. The hypothesis is that a breakout above the double-bottom neckline could be used as an entry trigger, with a stop-loss placed below the second low of the pattern. The target would be a move toward the 38.2% Fibonacci retracement level. Historical data from similar chart patterns shows that such setups can produce a risk-reward ratio of at least 1:2, depending on volatility. This approach aligns with the technical indicators suggesting a potential near-term reversal.