After holding within the $0.66–$0.70 range, ASTER’s trend broke down, and the altcoin touched a low of $0.63.
At press time, ASTER traded at $0.636, down 1.76% on the daily charts.
This market consolidation created a buying opportunity, especially for whales. However, the slip to $0.63 has left large entities that purchased within the range rethinking their decision.
Whale moves 5 million ASTER for $3.25 million
A whale purchased 10 million Aster worth $6.7 million four days ago at an average price of $0.67. With the altcoin slipping below the buying price levels, the position moved into a loss.
According to Lookonchain, the whale deposited 5 million ASTER worth $3.25 million.
After the transfer, the wallet still held 5 million ASTER from the earlier purchase.
While these tokens have yet to be sold, the transfer signaled preparation for a potential sale.
That move could add pressure to the market, especially with ASTER already struggling to hold support.
Is selling pressure increasing?
In addition to this whale transfer, ASTER faced significant selling pressure, especially from retail traders.
On Binance, Sell Volume exceeded 962 million compared to 902 million Buy Volume over the past month. The altcoin recorded a negative net buying of -99 million, signaling aggressive Spot selling.
On top of that, capital continued flowing out of the network.
Data from DeFiLlama showed that Aster protocol outflows peaked at $78 million.
At press time, net flows dropped to -$1.51 million, indicating rising uncertainty. That shift kept overall sentiment tilted toward the downside.
Can $0.6 support hold still?
ASTER has closed at lower lows since it faced rejection at $0.70 days ago.
The altcoin’s downside momentum strengthened as sellers continued to cash in gains while others exited at a loss.
For that reason, the Bulls v Bears indicator remained in the negative zone for four consecutive days. At press time, the indicator stood at -15, signaling strong bearish dominance.
Coupled with that, the Relative Strength Index (RSI) extended its decline, falling to 36 and nearing the oversold zone. RSI’s drop confirmed the ongoing bearish pressure.
Together, these indicators showed sellers remained in control, often a sign of further downside risk.
If this trend continues, ASTER could breach $0.60, with $0.56 as the next support.
However, if the altcoin closes above $0.64, downside risk could ease, allowing a move back toward $0.66 and range-bound trading.
Final Summary
- ASTER broke below its $0.66–$0.70 range and dropped to $0.63.
- Protocol outflows peaked at $78 million, pointing to declining confidence in the ecosystem.
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