After a notable rally to $2.40 last week, the Aster token price has taken a sudden nosedive, raising questions about whether the DeFi coin has lost momentum or if this is just a temporary setback.
Summary
- The Aster token price is down roughly 19% in the past 24 hours, falling to $1.56.
- Support is now being tested around $1.50, and a breakdown could push the token’s price toward $1.30.
- A short-term rebound is possible if bulls reclaim the 9-day SMA ($1.89) with strong volume.
The Aster token price has suffered a sharp reversal after a bullish run last week, erasing a large portion of its earlier gains. The token has plunged 19% in the past 24 hours and 22% on the week, now trading at $1.56 at press time.
Aster’s (ASTER) technical setup is now leaning bearish. The daily chart shows a series of lower highs and lower lows, confirming bearish momentum.
After a short-lived spike to the $2.40–$2.50 region on Sept 25, the token faced consistent selling pressure, dragging the price below its 9-day SMA, which now sits at $1.89.
Recent candles reflect indecision, with long wicks and short bodies, suggesting buyers are attempting to hold the line but lack strength.
Aster token price faces pressure despite whale interest
The double-digit dip comes even as the token records strong whale interest, with several large holders making sizeable accumulations in recent weeks. One such wallet, allegedly linked to YouTuber MrBeast, has been actively loading up on Aster over the past few days.
Between September 26 and 29, the wallet purchased 705,820 ASTER, valued at over $1.28 million at the time. It recently made another $386 million in buys, bringing total holdings to $1.53 million.
Other large wallets have also been accumulating ASTER recently, signaling continued interest from bigger players. Still, the recent price slide suggests that overall demand may be cooling, likely driven by muted sentiment across the broader crypto market.
ASTER is now testing critical support around $1.50. A breakdown below this level could push the price toward $1.30, the next potential demand zone.
For recovery to take place, the token would need to reclaim the 9-day SMA and break above $2.00 with strong volume. While a rebound is possible, it remains unlikely in the near term without a strong catalyst or shift in overall market sentiment.
