Astar (ASTR) price changed hands around $0.03, risking downside continuation.
Partnership with Animoca Brands could help ASTR’s price bounce.
Market outlook is nonetheless bearish.
Astar (ASTR) price traded around $0.03, slightly in the green on the day, as bulls struggled to keep bears off.
This comes as the Astar Network token has seen its native token plummet more than 10% in the past week, with technical charts signalling a potential downside continuation.
But with a major partnership and investment from a leading blockchain gaming firm in the bag, can ASTR’s price bounce?
Astar Network gets Animoca Brands’ backing
On May 21, 2025, the Astar Network team announced a huge move.
Astar is teaming up with Animoca Brands.
The companies announced their strategic collaboration on Wednesday, revealing that Animoca Brands had also made a key investment in Astar.
Per the announcement, Astar will leverage the new alliance to bolster its position within the entertainment and gaming ecosystem.
It seeks to leverage Animoca Brands’ support to become the leading project for industry players looking to enter the Japanese and Asian markets.
Not only is this about bringing intellectual property on-chain, but also about scalability and focus on consumer-facing experiences.
“The investment from Animoca Brands is not just about financial backing. It’s a strategic initiative aimed at driving long-term growth in Web3 entertainment. Animoca Brands sees the value in Astar’s unique position as a gateway for entertainment IP from Japan and Asia into the global digital ownership economy,” Astar Network wrote in its blog post.
Part of what’s next for Astar and Animoca Brands includes collaboration on further ways of driving adoption across Web3.
The platforms’ future plans also include the potential unveiling of an Intellectual Property and entertainment-focused fund.
Will ASTR price rally?
ASTR token traded at lows of $0.025 on May 7, 2025. However, amid network developments and a broader market uptick that followed, the altcoin surged to above $0.035.
Bears have since pushed Astar Network’s native token into the woods, with ASTR dumping over 10% in the past week.
On the daily chart, the RSI and MACD indicators signal bearish continuation, the latter having the histogram trending weak.
ASTR is, however, within a broad ascending triangle with the main resistance zone around $0.035.
If price dips below the trendline support, bears could target $0.022.
On the upside, a run to December 2024 highs of $0.9 is possible amid a rallying crypto market.
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