- Aster (ASTER) and Telcoin (TEL) are the altcoins with the largest declines over the past 24 hours.
- The broader cryptocurrency market is showing weakness amid a pullback in Bitcoin’s price.
- Major altcoins are down as investor nerves build.
The price of Aster fell sharply, joining other tokens like Telcoin with double-digit losses over the last 24 hours.
This decline comes as Ethereum, XRP and Solana led the major altcoins in giving back gains after Bitcoin (BTC) dipped below $86,000.
ASTER and TEL face the risk of further losses as selling pressure intensifies, especially while BTC trades negatively despite a brief rebound above $86,000.
The risk-off mood sweeping the market does not bode well for altcoins.
Aster drops 12% as bulls lose key support
Aster extended losses for a third consecutive day, slipping below $0.80.
At the time of writing, ASTER is down more than 12%, and a break below $0.77 could open the door to a deeper decline toward $0.54.
Momentum indicators reinforce the cautious outlook. On the four-hour chart, the Relative Strength Index (RSI) has moved into oversold territory.
While that can signal a possible rebound if selling eases, it also leaves room for further capitulation before a sustained recovery can begin.
In addition, the moving average convergence divergence (MACD) indicator remains firmly negative.
A recent bearish crossover confirms the dominance of a negative outlook amid broader market dynamics.
What could support ASTER bulls?
Like many newer tokens, Aster has experienced sizable profit-taking.
However, the decentralized perpetual exchange has announced developments that could help restore investor confidence.
One notable update is Aster’s introduction of Shield Mode, a protected trading state the DEX plans to integrate into its perpetuals platform.
The feature enables opening and managing private positions, among other key capabilities.
“Shield Mode is for traders who want performance without broadcasting their next move — a protected execution mode today and an early building block for the privacy features we are exploring with Aster Chain,” the team wrote on X.
Telcoin price at risk of further losses
Telcoin is down 12.7% at the time of press on Tuesday.
As shown in the chart below, the altcoin continues to extend recent losses amid the wider crypto weakness.
The TEL token has fallen for six consecutive days after turning negative when Bitcoin slipped below $90,000.
Amid the ongoing broader market correction, TEL has dropped 25% over the past week and has broken below its September support at $0.0040.
If that psychological support gives way, Telcoin could fall to $0.0027 and may retest the November 2024 lows around $0.0014.
The daily chart shows the token’s bearish momentum accelerating. A declining RSI and a recent bearish MACD crossover contribute to the negative outlook.