The post A Bleak Outlook or a Buying Opportunity? appeared on BitcoinEthereumNews.com.

The Astar crypto price lost nearly 2.52% of its value on Friday as the losing streak continued for the fourth consecutive session. The crypto faced selling pressure from the recent swing hgh after a consolidation of nearly three weeks near the highs. At the time of writing, the ASTR crypto was at $0.171, recording a negative intraday development of 2.52%. It has a total market capitalization of 967.92 Million and ranks 74th in the overall crypto market. The volume to market cap ratio is 2.57% suggesting low volatility. Moreover, the daily chart demonstrates that the crypto has made a breakdown of the 20-Day EMA and is headed towards the 50-Day EMA. Currently, the crypto rests above the recent support of $0.17 level and the lower boundary of the consolidation.  The ASTR price may drop sharply if it breaks below the recent demand zone. This is because the area contains the stoplosses of the short term investor and traders who have open positions on the long side. Fresh downside moves may be observed if the crypto breaks below the recent support. The breakdown may trigger a long unwinding and the crypto may drop sharply. Now, if the current demand zone is broken then it may unlock more moves on the downside.  Source: CoinMarketCap Astar Crypto Price Technical Analysis  Moreover, the broader term outlook for ASTR crypto lies on the positive side as the crypto hovers above the 50 and 200-Day EMAs. As observed on the chart, the crypto has been in a bullish trend for the last few months. The ASTR crypto reversed its course from bearish to bullish in October and showcased a strong bullish rally. The price lifted off from a low of $0.04 to a recent high value of $0.19. The crypto has delivered a return of over…

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Filed under: News - @ February 17, 2024 12:24 am