Crypto Traders Have a New Fave in Aster as It Jumps 2,000% in 7 Days: How High Can It Go?

After a weekly choppy, the crypto market is slowly returning to the top today.

But coins to a degree are excited as Bitcoin and most other major cryptocurrencies get caught up in trading surrounded by range.

Aster Token is currently trading at a market capitalization of $3.8 billion and a fully diluted valuation of $18 billion after it debuted just a week ago.

Here’s what this is going on, what the chart has to say about Aster’s rapid rise:

Aster: Explosive rise

Aster is a native token of decentralized, permanent futures exchange, and with the same name challenges the advantages of hyperliquid in the sector. It runs on multiple blockchains, including Ethereum and Solana, but exists primarily in Bnb Chain, formerly known as Binance Chain.

The exchange’s Aster has been around for over a year, but activity on the platform exploded after the launch of Aster Token, which will be traded as Aster on the BNB chain last week. Since then, Dex’s Aster has turned high lipids in daily volumes and revenues, generating $534 million in volumes and more than $7 million in revenue over the past 24 hours.

Today’s Aster Token is up almost 20%, trading for around $2.30 after surges in value by more than 2,000% since its launch on September 17th. The token has already reached a market capitalization of over $3 billion. This is enough to win 35th place out of all Coinmarketcap coins and 47th place in Coingecko. (These indices track different cryptocurrencies other than the top 25 or so.)

Aster’s technical photos show strong bullish momentum. However, please note that technical analysis is usually less reliable than for assets with more transaction history, as the tokens are one week old.

Nevertheless, Aster’s relative strength index (RSI) stands at 65, indicating strong purchasing pressure. RSI measures momentum on a scale of 0 to 100. Here, measurements above 70 usually indicate excessive conditions that precede the pullback. The 65-year-old Astor still has room to run before profits reach normal levels.

The average directional index (ADX) for Aster Token is 34, which confirms a strong trending environment. ADX measures the intensity of trends regardless of direction, with measurements above 25 indicating a confirmed trend. At 34 years old, traders usually see a strong directional move for Aster, who uses them as a confirmation to stay on the trend rather than fighting it. This suggests that recent momentum is not just noise, but rather represents authentic market beliefs.

The squeeze momentum indicator shows “off” status, with price volatility already released, indicating that the current movement will last at least for a short period of time, but potentially continues at a slow pace until new contractions occur. Again, with younger coins, this analysis is prone to inaccuracy, and traders looking for signals in very short time frames may be better off relying on price support and resistance until other indicators buy more time to provide solid measurements.

It appears that much of the excitement around Astor is being driven by the Binance Backed Dex’s planned rewards programme. The ASTER token was launched with AN Airdrop For early users, the exchange bullied along with a token buyback program using the future rewards of current users and revenue generated from trading fees.

However, if the emotional signal is what you want, there is insight you can get from your current predictive market behavior.

Myriad has been developed by the forecast market DecryptionUsers, parent company Dastan, believe that Aster is currently very likely to maintain the top 40 coin spot on CoinmarketCap by the weekend, with an odds of over 87%. And these odds have risen rapidly over the past few days. As expected from just 35% on Monday, coins jumping value.

Countless users also have an odds of around 40% that Aster continues to rise rapidly in rank double Again, it reached a price of $4 per coin at pre-November prices. That alone is enough to charge a spot near the market capitalization of nearly $7 billion and the top 30 coins.

Will you get there? The crypto market is whimsical, but the charts are bullish and crazy things have happened.

Key Level:

• Immediate Support: $2.20 (previous resistance now supports)
• Strong support: $2.00 (psychological level)
• Immediate resistance: $2.40 (highest areas in recent years)
• Strong resistance: $2.60 (next major psychological barrier)