Aster price surges 32% amidst news of Aster Chain coming soon
Aster price gets another boost after news of its CEO claiming that the project is planning on releasing a blockchain network with features including native perp integration and a buyback program.
- The team behind Aster is rumored to be working on a blockchain to support the success of its token, ASTER which has seen major success as of late.
- ASTER received a 32% boost from the news of a blockchain in its testing phase and has remained near the overbought zone.
According to the X information account Solid Intel, Aster CEO of the project has confirmed that after the smashing success of the ASTER token price, the team is developing a mainnet to support its token.
The account claims that the network blockchain will be called Aster Chain and it is coming soon.
The network is rumored to include several features, including sub-second finality time, native perpetual contract integration and low transaction fees. In addition, the team is also planning a token buyback plan to further raise the value of its tokens, which have shown no signs of slowing down.
Although no specific launch date has been confirmed so far, the blockchain network for ASTER (ASTER) is rumored to already be in its testing phase.
“ASTER CEO confirms Aster Chain is coming and in testing, featuring sub-second finality, native perp integration, low fees, and a token buyback program,” claimed Solid Intel on X
Even though the official Aster account has yet to confirm whether the team is truly working on a blockchain network or not, the news has recently gone viral in the crypto community. Rumors of a blockchain network coming soon has already catapulted the Aster token price to newer heights.
At press time, the token has risen by 32.86% in the past 24 hours. In the past seven days, the token has yet to slow down, remaining on an uptrend that was fueled by recent achievements including support from former Binance CEO Changpeng Zhao’s YZi Labs.
ASTER token price analysis
Aster token price has been showing a strong upward trend over the past few days, with the price climbing from lower than $1.00 to above $2.20 in a relatively short timeframe. This sustained rally suggests bullish momentum, supported by consistent higher highs and higher lows on the candlesticks.
Despite a slow-down in price action due to hesitancy, Aster token price made a comeback with rising momentum coinciding with recent news that the Aster Chain is entering testing or pre-launch phases. The token’s push toward the $2.20 to $2.30 range could be seen as a build-up anticipation ahead of a possible chain launch.
Looking at the RSI, the indicator is currently at 67.75, just below the overbought threshold of 70. This suggests that while buying pressure has been strong, the token is approaching a level where momentum was close to a slow-down, and profit-taking might occur. The RSI has also started flattening, which could indicate a potential shift toward consolidation rather than an immediate continuation of the sharp uptrend.
However, this slow-down rose sharply following news of the Aster Chain being in its testing phase.
Moreover, price action has also formed a steep rising trendline, but the recent small dip below the peak hints at short-term exhaustion.
If ASTER token price fails to break above $2.30 with strong volume, it could see a correction toward the $2.10–$2.15 support area before attempting another leg higher. A deeper retracement could find stronger support near $1.90, where prior consolidation occurred.
