After crashing over 50% from its recent peak amid a wave of bearish catalysts, ASTER price has stabilized around $1.15. Here’s a look at the key factors behind the sell-off and what the near-term outlook could hold.
Summary
- ASTER price has recently broken below its key $1.50 neckline after forming a double-top, triggering a sharp drop to $1.10 before stabilizing near $1.15.
- The sell-off followed Aster’s DeFiLlama delisting and a $12M token transfer to Binance.
- Further pressure came after Aster delayed its Phase 2 airdrop due to data issues, coinciding with renewed market jitters from U.S.–China tariff tensions.
- Looking ahead, ASTER price must reclaim $1.50 resistance to confirm a recovery; failure to do so could expose the token to another leg down toward $1.00–$0.70.
Aster (ASTER) price has recently experienced a sharp correction, plunging approximately 52% from its recent peak at $2.30. Technically, the crash was foreshadowed by the formation of a double-top pattern, as previously flagged by crypto.news.
The neckline support of the bearish pattern (around $1.50) was decisively broken on Oct. 10, triggering a wave of selling pressure that drove the token to $1.10, where buyers stepped in to scoop the dip.
Since then, Aster (ASTER) price appears to have established a new support base around $1.15 and managed to recover to $1.46 at press time, attempting to reclaim the previously broken neckline at $1.50, which now acts as the local resistance.
If bulls manage to push and close above $1.60, it could signal a potential trend reversal or at least a short-term recovery rally, possibly targeting $1.75 and later $2.00. However, rejection at this level could reinforce bearish momentum, prompting a deeper correction toward $1.00.
Why did ASTER price crash over 50%?
Initially, ASTER sell-off was likely driven by mounting concerns following its delisting from DeFiLlama. The analytics platform suspended Aster’s trading data after detecting unusually tight volume correlations with Binance, raising questions about the authenticity of its reported liquidity.
Shortly after, an additional wave of uncertainty hit the market when over 6.1 million ASTER tokens (around $12 million) were transferred to Binance, a transaction believed to be linked to Galaxy Digital. These two developments collectively fueled selling pressure, pushing ASTER down toward the critical $1.50 neckline of its double-top structure.
However, on Oct. 10, the sell-off deepened after Aster postponed its Phase 2 airdrop, citing data inconsistencies in its allocation checker tool following widespread user complaints about inaccurate distributions. Originally scheduled for Oct. 14 but pushed back to Oct 20, the delay injected further uncertainty into an already fragile market.
Combined with Donald Trump’s announcement of 100% tariffs on Chinese imports, which triggered a broader risk-off sentiment across global markets, the news compounded selling pressure on ASTER.
