- Aster price fell about 20% toward $1 as sell pressure hit altcoins
- Altcoin hit an all-time high of $2.42 in September but has retraced amid broader selling.
- Altcoins see deep losses as Bitcoin drops below $106,000.
Aster (ASTER) has seen its recent parabolic gains rapidly evaporate as the crypto market experiences a sharp downturn.
The governance token for the decentralized exchange declined nearly 20%, sliding toward the psychological $1 support level as bulls gave way to broader selling momentum.
Aster has relinquished significant gains, and continued downside risk could allow bears to take control.
Aster price extends decline amid 20% drop
With the crypto market trading in the red early Friday, Aster’s price plunged roughly 20%, reaching a low of $1.08 on major exchanges and broker platforms.
After trading above $1.36, the double-digit fall over the past 24 hours placed ASTER among the biggest decliners alongside coins such as Zcash, Mantle, SPX6900 and Morphon.
The steep downtrend continued several days of losses as bulls failed to hold gains near $1.60.
The token had surged from the lows seen during the October 10 market sell-off, but those gains have now been largely wiped out.
Over the past week Aster’s price has dropped more than 32% as profit-taking and broader macro pressures weighed on sentiment.
The next-generation decentralized perpetual and spot exchanges built on the BNB Chain had previously attracted significant attention from both investors and traders.
Aster’s rapid rise had been supported by recent listings on large platforms, including Robinhood and Binance, which helped fuel earlier momentum.
However, that euphoria appears to be fading as selling pressure across the crypto market increases.
Bitcoin fell below $105,000 early Friday. As bears pushed BTC to a low of $104,597 after a roughly 4% drop in 24 hours, major altcoins slumped.
Ethereum, Solana and XRP all dropped to or below key support levels, intensifying the sell-off.
What’s next as Aster flirts with the $1 mark?
Aster is currently hovering around the $1 psychological threshold.
This level is crucial for bulls to defend if they hope to prevent further losses.
Recent price action has consolidated just above this critical area.
ASTER price chart
A sharp decline and a breakdown from a descending triangle, however, would raise the risk of further pain for bulls.
The token’s all-time high of $2.42 on September 24 is now well out of reach for the moment.
Technical indicators such as the daily Relative Strength Index (RSI) show ASTER in oversold territory.
That condition suggests exhausted selling could create a window for bulls to attempt a recovery.
Nonetheless, any sustained selling pressure risks breaking the $1.00 support level.
Coinglass data shows Aster’s open interest has fallen sharply and now sits around $477 million.
Rising long positions have borne the brunt of the correction, with long liquidations accounting for nearly 90% of total liquidations — more than $10 million of the roughly $12 million liquidated in the past 24 hours.
Short liquidations accounted for just $1.73 million of the total.
A decisive breakout back above $1 remains critical for bulls to restore momentum.
Conversely, persistent selling below $0.85 would likely hand control to the bears.