- ASTR crypto price has declined 25.37% during the monthly trading session.
- The current price is getting bullish reactions from the $0.0874 bullish point of interest (POI).
- The 24-hour trading volume has reached $32.03 million, with an increase of 17.65%.
Astar Network (ASTR) is a Polkadot Parachain where developers can focus more on application development and move beyond infrastructure. The network connects the Polkadot ecosystem with Layer-1 blockchains built as a multi-chain Polkadot DApp hub. Astar provides interoperable Web 3.0 infrastructure, financial incentives, incubation programs, and technical support with DeFi, NFTs, and DAOs.
ASTR has Reflected 155.26% Positive Returns in the Last Six Months
The ASTR crypto price started a bullish reversal in October 2023 from the $0.0490 level. Afterwards, the cryptocurrency provided positive returns for four consecutive months. The price reflected over 300% bullish rallies during those months, indicating an upcoming bullish correction period.
As a consequence, the cryptocurrency suffered heavy profit bookings from the $0.1947 resistance in February 2024. The price declined 11.17% in February and 11.10% in March 2024, reflecting negative sentiments. This situation also impacted the current month with over 23.40% negative returns.
Astar Network has an uncapped maximum supply of tokens. The total supply is at 8.42 billion, out of which 5.63 billion ASTRs are circulating in the market. The full diluted market capitalization is assumed to be at $899.63 million. The current market capitalization stands at $601.19 million.
Price to Volume and Social Dominance Analysis
The cryptocurrency social buzz hiked after December 14, 2023, and covered almost 0.271% dominance across the crypto world. This positively impacted the trading volume. The trading volume is moving closer with social dominance, showing a $25 million average volume.
Technical Analysis of the Astar Network (ASTR) Price
The current price slipped below the key exponential moving averages, reflecting negative sentiments in the current sessions. The 50-day EMA can become a dynamic resistance for the price.
ASTR crypto price has given a breakdown from the $0.1132 key support level. Afterwards, the price fell on the $0.0874 bullish point of interest (POI) on April 13, 2024. In the last four trading sessions, a positive approach from the buyers can be observed on the $0.0874 level. The price can surge up to $0.1735 if it has a closing above $0.1480. Or, a shortfall in price can be expected below $0.0874.
The relative strength index (RSI) is showing strong positive momentum from the 30-mark lower band, indicating a bullish reversal. The RSI is moving at 39.52 above the signal line.
Summary
Since February 2024, the ASTR price has been performing with bearish sentiments. However, the cryptocurrency has 155.26% six-month returns, which reflects people’s trust in the project. ASTR price can surge up to $0.1735 if it has a closing above $0.1480. Or, a shortfall in price can be expected below $0.0874.
Technical Levels
- Resistance Levels: $0.1480 and $0.1968
- Support Levels: $0.0874 and $0.0586
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational purposes only. They do not establish financial, investment, or any other advice. Investing in or trading crypto or stock comes with a risk of financial loss.