- A decrease of 10.20% has been observed in the Astar crypto during the weekly trading session.
- The current ASTR price sustains above the $0.0874 bullish point of interest (POI).
- 24-hour trading volume has exceeded $24 million, with an increment of 5.06%.
Astar (ASTR) is a Parachain designed as a multi-chain Polkadot dApps hub, supporting DeFi, NFTs, and DAOs. The network provides interoperable Web 3.0 infrastructure, financial incentives, technical support, and incubation programmes. It helps developers to build decentralized applications (dApps) and Layer-2 solutions. The network also connects the Polkadot ecosystem with Layer-1 blockchains such as Cosmos, Ethereum, etc. Astar uses a nominated proof-of-stake (PoS) consensus algorithm.
ASTR Crypto Supply Changes, Market Cap & Valuation April 2024
The current circulation supply of the ASTR tokens is at 5.63 billion. The network has 8.43 billion tokens created. The maximum supply of the cryptocurrency is uncapped, which means Astar can create tokens as much as it wants. This can become one of the key problems behind future inflations.
The current market cap of Astar is ranking under the top 130 most dominant cryptocurrencies. The full diluted valuation of the ASTR crypto is assumed to be at $855 million. The trading volume has reached over $24 million, ranking 183rd out of 9,828 active cryptocurrencies. The crypto also reflects sufficient liquidity with a volume-to-market capitalization ratio of 4.37%.
Price to Volume and Social Dominance Analysis
The social tweets in accordance with the cryptocurrency had a significant rise before Dec 21, 2023. The rise in tweets had a positive impact on the crypto price. Astar crypto price has reflected a consistent uprise since then. However, social sentiments and volume have been fading since the start of 2024, as can be seen in the chart.
The price, on the other side, has been facing bearish sentiments since mid-Feb 2024. The current dominance of the cryptocurrency stands at 0.005% across the social media platforms.
Technical Analysis of the Astar (ASTR/USD)
The short-term bearish outlook lies below the key exponential moving averages. The current price slipped below the 50-day and 200-day EMAs, indicating bearish sentiments in the current phase.
ASTR price has given a breakdown from the $0.1132 crucial support level. Afterwards, the price fell on the $0.0874 bullish point of interest (POI), giving a 37% bullish move. According to the market technicals, if the price closes above the $0.1480 level, the price can reach the $0.1735 resistance level. On the other hand, ASTR price can fall to the $0.0694 demand zone if the price slips below the $0.0874 POI.
The relative strength index (RSI) has shown some strong bullish momentum in recent sessions. This indicates that buyers have started approaching the crypto price at current levels. The RSI line is moving at 35.60 below the 38.74.
Summary
Astar crypto price experienced a significant rise from December 2024. The crypto recorded over 190% of bullish rallies till February 2024. Subsequently, the price has been facing bearish sentiments since then. ASTR price is sustaining above the $0.0874 bullish POI. If the price closes above the $0.1480 level, the price can reach the $0.1735 resistance level. On the other hand, ASTR price can fall to the $0.0694 demand zone if the price slips below the $0.0874 POI.
Technical Levels
- Resistance Levels: $0.1480 and $0.1735
- 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.