Key Insights:
- Whale selling pushes ASTER to new lows as order book shows signs of panic-driven liquidations.
- Breakdown below $0.69 cleared key liquidity; $0.61 now viewed as potential next downside target.
- No strong buyer reaction seen post-wick; RSI shows further downside room before oversold conditions.
ASTER fell below the $0.69 support at press time breaking a trading range that had held for several days. The price quickly dropped to $0.6475 before bouncing slightly, but it failed to reclaim the broken level. The move came after a period of tight consolidation between $0.69 and $0.74, with repeated rejections near the upper boundary.
As soon as $0.69 was breached, sell orders accelerated. The market reacted quickly, and liquidity around $0.65 was cleared out in one sharp move. The breakdown was expected by some traders who had added to short positions during relief bounces inside the range.
Whale Selling Pressure Continues to Build
Market data showed ongoing selling activity from large holders. Cumulative Volume Delta (CVD) readings on both spot and perpetual markets recorded new lows, pointing to sustained pressure from bigger players. These participants have been selling into every bounce, with no clear signs of slowing.
During the drop to $0.6475, there was a visible wick on the chart, suggesting a brief absorption of the selling. One trader commented, “Whale selling pressure has made a new low on CVD,” following the sharp move down. While some of the volume was absorbed, the selling resumed shortly after, pushing the price back below $0.69.
Breakdown Backed by Footprint and Order Flow Data
The Binance Perpetual footprint chart shows how the breakdown unfolded. Around 8 million ASTER tokens were sold between $0.658 and $0.6475. The order flow revealed a clear absence of buyers during the move, with several prints showing no bids—often a sign of stop-losses being hit and market orders overwhelming the book.
After the initial drop, price bounced slightly, but the lack of follow-through buying kept the downtrend in place. The volume during the breakdown stood out, but activity has slowed since, with little sign of demand stepping in at current levels.
Focus Shifts to the $0.61 Level
With $0.69 lost and $0.65 swept, attention is now on the $0.61 level.
One trader tracking the move said,
Source: Ardi XThe statement reflects current sentiment across the market, where sellers remain in control.
Technical indicators also show weak momentum. The RSI sits near 36, suggesting there is still room to the downside before conditions become oversold. As of the latest data, ASTER was trading at $0.6813, down 3.7% in the last 24 hours and 14.5% over the past week.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Source: https://coincu.com/uncategorized/aster-crashes-through-0-69-next-stop-0-61/
