In this Astar (ASTR) price prediction 2023, 2024-2030, we will analyze the price patterns of ASTR by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
Astar (ASTR) Current Market Status
What is Astar (ASTR)
Astar, formerly known as Plasm, emerged in 2019 as a Polkadot-based initiative founded by Sota Watanabe. Positioned as a decentralized application (dApp) development platform within the Web 3.0 ecosystem, Astar facilitates the creation of smart contracts. In a landscape witnessing a surge in crypto users, Astar envisions providing a more cost-effective, expeditious, and feature-rich dApp experience to meet the growing demand. The platform actively supports developers and project initiatives through financial incentives, incubation programs, and technical assistance, notably the Astar Builders Program.
Recognizing the escalating adoption of decentralized applications, Astar aims to address the imperative for scalability in dApp development. The network’s architecture comprises two layers: the base layer, constructed using the Substrate blockchain framework, and the second layer, an extended solution leveraging the Optimistic Virtual Machine (OVM) developed by the Plasma Group. This dual-layer structure allows users the flexibility to choose the most suitable solution for their use case, minimizing operational complexities. Sota Watanabe, based in Singapore and studying economics at Keio University in Tokyo, spearheads Astar’s innovative approach to advancing decentralized application development.
Astar 24H Technicals
(Source: TradingView)
Astar (ASTR) Price Prediction 2023
Astar (ASTR) ranks 109th on CoinMarketCap in terms of its market capitalization. The overview of the Astar price prediction for 2023 is explained below with a daily time frame.
ASTR/USDT Horizontal Channel Pattern (Source: TradingView)
In the above chart, Astar (ASTR) laid out a rounding bottom pattern. The price movements form a pattern that resembles a bow and hence is also known as the saucer bottom pattern. In general, the rounding bottom pattern indicates a long-term price reversal. This pattern also emphasizes the changes in the market sentiment as the trend seems to shift from bearish to bullish. Investors generally have to stay cautious and time the market well. If the price breaks and moves past the resistance level, it will enter a confirmed bullish trajectory.
At the time of analysis, the price of Astar (ASTR) was recorded at $0.09702. If the pattern trend continues, then the price of ASTR might reach the resistance levels of $0.1846, and $0.9790. If the trend reverses, then the price of ASTR may fall to the support of $0.0799, and $0.0352.
Astar (ASTR) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of Astar (ASTR) in 2023.
ASTR/USDT Resistance and Support Levels (Source: TradingView)
From the above chart, we can analyze and identify the following as resistance and support levels of Astar (ASTR) for 2023.
ASTR Resistance & Support Levels
Astar (ASTR) Price Prediction 2023 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Astar (ASTR) are shown in the chart below.
ASTR/USDT RVOL, MA, and RSI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the current Astar (ASTR) market in 2023.
Astar (ASTR) Price Prediction 2023 — ADX, RVI
In the below chart, we analyze the strength and volatility of Astar (ASTR) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
ASTR/USDT ADX, RVI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the price momentum of Astar (ASTR).
Comparison of ASTR with BTC, ETH
Let us now compare the price movements of Astar (ASTR) with that of Bitcoin (BTC), and Ethereum (ETH).
BTC Vs ETH Vs ASTR Price Comparison (Source: TradingView)
From the above chart, the price action of ASTR is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of ASTR also increases or decreases respectively.
Astar (ASTR) Price Prediction 2024, 2025 – 2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Astar (ASTR) between 2024, 2025, 2026, 2027, 2028, 2029 and 2030.
Conclusion
If Astar (ASTR) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish Astar (ASTR) price prediction for 2023 is $0.2309. Comparatively, if unfavorable sentiment is triggered, the bearish Astar (ASTR) price prediction for 2023 is $0.0344.
If the market momentum and investors’ sentiment positively elevate, then Astar (ASTR) might hit $1. Furthermore, with future upgrades and advancements in the Astar ecosystem, ASTR might surpass its current all-time high (ATH) of $0.3353 and mark its new ATH.
This content was originally published by our partners at The News Crypto.