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Alejandro Arrieche
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Aster has dropped by more than 20% in the past 7 days as traders were spooked by the market’s downturn. With market sentiment recently hitting record lows, does this favor a bearish ASTER price prediction?
Recently, the Chief Executive Officer of Aster said that the project plans to launch its native blockchain, the Aster Chain.
The project’s market share currently sits at 20% when measured by 24-hour trading volumes, already surpassing Hyperliquid by this particular metric. Nonetheless, the market has dumped ASTER recently, inflicting a 42% loss in just 30 days.
Data from DeFi Llama shows that Aster’s total value locked (TVL) started to drop after the October 10 flash crash. Back then, Aster’s TVL sat at nearly $2.5 billion, while it has now retreated to $1.3 billion.
Traders were spooked by the massive wave of liquidations that flushed out $16 billion in just a few hours and don’t seem to be ready to come back to the market yet.
Aster Price Prediction: ASTER Breaks Below Two Key Support Levels and Could Drop by Another 27%
The 4-hour chart shows that Aster has broken two key support areas and could continue to drop if it fails to recapture the $0.82 level.
The downtrend has accelerated since Monday, while yesterday’s data-heavy session contributed to pushing the price below this key threshold.
The Relative Strength Index (RSI) has already hit extreme levels in this lower time frame and seems to have made a double bottom. This favors a mild recovery during today’s session that could push ASTER back to $0.82.
Failing to move above that mark could result in a 27% loss, as it could push the token to $0.60.
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