TL;DR:
- Bitcoin fell below $105,000, triggering massive sell-offs that hit altcoins.
- The token lost nearly 20% and is approaching $1 support after weeks of selling pressure.
- With an RSI in oversold territory and long liquidations exceeding $10 million, Aster faces the challenge of maintaining its key support. A break below $0.85 could confirm bearish control.
In a matter of days, the optimism that was driving Aster (ASTER) vanished like sand through your fingers. The decentralized exchange’s governance token, which hit an all-time high of $2.42 in September, fell nearly 20% to hover around the psychological level of $1, dragged down by a wave of selling that is shaking the crypto market. Friday’s scene showed Bitcoin below $105,000 and the major altcoins painted red. Amid this chaos, Aster’s shine seems to have faded, at least for now.
Selling pressure drags down Aster
Aster started the day with losses reaching $1.08 on the main exchanges, accumulating a weekly decline of more than 32%. The move placed it among the biggest losers alongside Zcash, Mantle, and Morpho. After a failed attempt to hold $1.60, the correction deepened as investors took profits and macroeconomic fears permeated market sentiment.
Aster’s recent history had been meteoric. Built on BNB Chain, its rise coincided with listings on major platforms such as Binance and Robinhood, which sparked enthusiasm among traders and investors. But the same speed that elevated it now appears to be its Achilles heel: enthusiasm deflated as quickly as it arrived.
Bitcoin’s collapse below $105,000 intensified the decline. Ethereum, Solana, and XRP also lost key levels, accentuating the sense of capitulation. According to data from Coinglass, open interest in Aster fell to $477 million, with more than 90% of liquidations coming from long positions, equivalent to more than $10 million in a single day.
Technically, the token is in oversold territory according to the RSI, which could offer temporary respite. However, if the $1 support level gives way, the bearish scenario could deepen to $0.85. For bulls, regaining that level is more than a goal: it is a matter of survival.
