Following $22 million in whale sell-offs and the upcoming airdrop putting added pressure on the market, investors are questioning Aster’s next move.
Key Highlights
- Whales offload $22.88 million worth of ASTER, sparking fear among traders
- Stage 3 of the airdrop rewards approaches, increasing dilution risk
- Price falls below key $1.18 support, marking an 8% weekly decline
What Triggered Aster’s Price Drop?
The past week has been turbulent for Aster. Despite overall crypto market stability and Bitcoin’s strength, ASTER dropped 0.99% in the last 24 hours and 8.08% over seven days. With a market capitalization of $2.42 billion and a trading volume of $515 million, trading activity remains high—but sentiment is bearish.
The primary catalyst behind the sell-off is whale activity. Two major wallets transferred $22.88 million worth of ASTER to exchanges, causing panic among investors. Additional pressure comes from the upcoming third phase of airdrop rewards, accounting for 4% of the total supply—potentially diluting existing holders’ value.
Aster Price Analysis
On the 4-hour chart, the picture looks clearly bearish. ASTER’s price recently touched the lower Bollinger Band near $1.12 before slightly rebounding to $1.20. The RSI hovers around 45, indicating a lack of strong buying momentum.
The recent drop broke below the critical $1.18 level, which now acts as resistance. If ASTER can hold above $1.19, a short-term sentiment reversal may occur. Bulls are targeting $1.59 and $1.83, but heavy selling volumes continue to undermine recovery attempts.
Support lies around $1.05—the last local bottom. If this level breaks, a sharper decline could follow. Unless whale activity calms and the airdrop distribution is managed effectively, buyers are likely to remain cautious.
Conclusion
While ASTER remains actively traded, the signals are mixed. Whale sell-offs, upcoming dilution, and a breakdown below $1.18 point to a bearish context. However, strong trading volume suggests that the next major move—whether up or down—could be sharp and decisive for Aster’s short-term trajectory.
Frequently Asked Questions
Find answers to the most common questions below.
Large whale sell-offs worth $22.88 million and the upcoming airdrop phase increased market pressure and caused selling panic.
Support is around $1.05, while resistance levels are at $1.18 and $1.59.
Recovery depends on whether whale activity slows down and the airdrop distribution doesn’t cause further dilution. A move above $1.19 could indicate short-term bullish momentum.
This article is for general informational purposes only and is not intended to be, and should not be construed as, legal or investment advice. Crypto-assets are highly volatile, so only invest funds that you are willing to lose and use your own research and risk management.
