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Following
ASTER Triangle pattern is the key to price fluctuations.
As of the time of report, ASTER's price was US$0.6218, with a 24-hour trading volume of US$42.96 million, and a market value of US$1.67 billion. The price trend of the cryptocurrency has stabilized, and market participants are paying close attention to the convergence pattern appearing on the technical chart.
technical analyst Crypto With Gopal pointed out that ASTER presents a tightening symmetrical triangle on the 1-hour chart, which consists of a series of lower highs and higher lows, reflecting the market's growing hesitation. As the pattern approaches its peak, the possibility of sharp price fluctuations is increasing.
If the token breaks through the upper resistance line with strong trading volume, analysts expect the price to rise to around $0.70. However, if prices fall below the trend line below, intensified selling pressure could drag ASTER to support near $0.54.
Market observers focus on the symmetrical triangle of $ASTER: if buyers dominate, a breakthrough may push the price to US$0.70; if support is lost, the token may fall to US$0.54.
Scenarios and potential goals
Breaking through resistance: US$0.70
Falling below support: US$0.54
Deflation measures and pledge rewards
Aster, a decentralized agreement focusing on efficient pledge and deflationary token economics, recently announced the completion of a new round of repurchase and destruction. From June 29 to July 13, the agreement used 99% of the daily platform fee to repurchase 3,083,815.69 ASTER for distribution to pledgers, while destroying the same number of tokens from team shares. This brings the total number of tokens destroyed since June to 6,020,941.22 ASTER.
Such repurchase destruction actions are intended to support token scarcity and strengthen the project's long-term value proposition to investors.
Small Dictionary: Repurchase and destruction, that is, blockchain agreements repurchase a certain number of own tokens from the market and destroy them, thereby reducing the total supply and possibly increasing scarcity.
In sync with deflation measures, Aster also revised its pledge rewards. Users lock the token for 26 weeks and are currently expected to receive an annualized rate of return of approximately 5.35%; while choosing the maximum lock-up period of 208 weeks, they can receive an annualized rate of return of up to 28.85%. However, returns are still affected by market fluctuations.
Outlook remains neutral despite bullish plans
Although repo destruction has strengthened Aster's deflationary stance and some analysts expect a bullish reversal, prices are still moving sideways. Broader market sentiment is also affecting ASTER, especially as Bitcoin prices are facing moderate pressure after recent gains.
ASTER's short-term trend depends on the breakthrough direction of the symmetrical triangle shape. If a breakthrough occurs, buyers could push the token to $0.70; a new round of selling could push the price to $0.54.
Although the market is optimistic about the project's deflation mechanism and incentive adjustments, ASTER's price trend is still hesitant, reflecting the overall market environment affected by Bitcoin.
