- Aster price fell 20% to near $1 as sell-off pressure hit altcoins
- The altcoin touched its all-time high of $2.42 in September but has declined amid broader selling
- Altcoins are dumping as Bitcoin slips to under $106,000
Aster (ASTER)’s parabolic gains in recent weeks have rapidly faded as the broader cryptocurrency market plunges.
The decentralized exchange’s governance token dropped nearly 20%, moving closer to the $1 support level as bulls gave way to wider sell-off dynamics.
Aster has lost a large portion of its recent gains, and continued downside risk could allow bears to seize control.
Aster price extends decline amid 20% dip
With crypto markets in the red early Friday, Aster’s price plunged about 20% to lows near $1.08 across major exchanges and trading platforms.
After trading above $1.36, the token’s double-digit loss over 24 hours placed ASTER among the top decliners alongside Zcash, Mantle, SPX6900 and Morpho.
The sharp downturn continues a multi-day slide that began when bulls failed to hold gains near $1.60.
The token had surged to that level after rebounding from lows seen during the crypto crash on October 10.
Over the past week, Aster’s price has fallen more than 32% as profit-taking and broader macroeconomic pressures weighed on sentiment.
The next-generation decentralized perpetuals and spot exchange, built on the BNB Chain, had previously attracted considerable interest from investors and traders.
Aster’s rapid ascent was supported by recent listings on major platforms such as Robinhood and Binance, which helped fuel earlier momentum.
However, the earlier euphoria appears to be fading as sell-off pressure across the cryptocurrency sector intensifies.
Bitcoin dipped below $105,000 early Friday, touching lows of $104,597 after a roughly 4% drop in 24 hours, which pressured major altcoins lower.
Ethereum, Solana and XRP also fell to or below key support levels, deepening the market-wide sell-off.
What next as Aster revisits $1 level?
At present, Aster is hovering around the $1 psychological threshold.
This level is critical for bulls to defend if they hope to prevent further losses.
Price action has recently consolidated just above this key mark.
Yet the sharp drop and breakdown from a descending triangle pattern leave bulls vulnerable to additional losses.
The token’s all-time high of $2.42 on September 24 is now distant.
Technical indicators such as the daily Relative Strength Index (RSI) show ASTER in oversold territory.
That suggests exhausted selling could open the door for a rebound if buyers step in.
Nonetheless, sustained downward pressure could cause the $1.00 support to fail.
Data from Coinglass shows a sharp decline in open interest for Aster, currently around $477 million.
Bullish positions bore the brunt of the correction: long liquidations accounted for nearly 90% of total liquidations — more than $10 million of roughly $12 million liquidated in the past 24 hours.
Short positions represented about $1.73 million of the total.
For bulls, a decisive breakout above $1 is necessary to regain momentum, while continued selling below $0.85 would likely hand control to the bears.