Market Analysis of ASTER/USDT:
It is presently indicating a short-term downtrend as price trades below most major moving averages. In the aftermath of the drop to 1.111, the market has attempted to bounce off, indicating that at least some buyers are active at lower levels.
The first major support stands at 1.111-which is the strongest area where the price was previously defended. There is another smaller support zone around 1.146-1.150, and holding above it could be important for the price to stabilize for a recovery.
Upside resistance may be found at 1.196, closely aligned with the 25-period moving average. If buyers manage to break above this level, the next resistance zones lie at 1.226-1.230 and then near the moving average of 1.259.
However, inability to hold above 1.146 might force the price to revisit the 1.111 support. A break below this level can trigger further downside pressure. Overall, the market remains weak, and for the market to turn bullish, sustained upside beyond 1.196 needs to be seen for stronger upward momentum.
