- Aster price plunged 20% to near $1 as altcoins faced selling pressure
- The altcoin touched an all-time high of $2.42 in September but fell amid the wider market sell-off.
- Altcoins are dumping as Bitcoin slips below $106,000.
Aster’s (ASTER) parabolic gains of recent weeks have rapidly evaporated as the broader cryptocurrency market turns lower.
The decentralized exchange governance token dropped nearly 20%, approaching the $1 support level as bulls gave way to broad selling pressure.
Aster wiped out substantial gains, and continued downside risk could hand control to the bears.
Aster extends decline with a 20% drop
With cryptocurrencies in the red, Aster fell about 20% on Friday, hitting a low near $1.08 on major exchanges and trading platforms.
The double-digit collapse from levels above $1.36 over the past 24 hours left ASTER among the day’s biggest losers alongside assets such as Zcash, Mantle, SPX6900 and Morpho.
A sharp pullback prolongs several days of weakness as bulls failed to hold gains around $1.60.
The token had previously climbed after rebounding from the lows recorded during the crypto crash on October 10.
Over the past week, Aster’s price dropped more than 32% as profit-taking and broader macro pressures weighed on sentiment.
The next-generation decentralized perpetual and spot exchange built on BNB Chain had drawn significant attention from investors and traders.
Rapid upward momentum was supported by recent listings on major platforms such as Robinhood and Binance, which helped fuel earlier price action.
However, that euphoria appears to be fading as selling pressure mounts across the crypto market.
Bitcoin slid below $105,000 early Friday. As bears pushed the price to a low of $104,597 after a 4% decline in 24 hours, leading altcoins came under pressure.
Ethereum, Solana and XRP fell to or below key support levels, intensifying the market rout.
What happens if Aster revisits $1?
Aster is currently flirting with the psychological $1 mark.
This is a critical level bulls must defend to avoid further territory losses.
Prices have recently consolidated around this threshold.
ASTER price chart according to TradingView
The steep drop and breakdown from a descending triangle pattern indicate bulls could face further pain.
The token’s all-time high of $2.42 on September 24 remains well out of reach for now.
Technical indicators, such as the daily Relative Strength Index (RSI), place ASTER in oversold territory.
That suggests exhausted selling could open the door for bulls to attempt a rebound.
Still, any renewed downside pressure could collapse the $1.00 support level.
Coinglass data show a sharp decline in Aster open interest, now around $477 million.
Bullish positions bore the brunt of the correction, with long liquidations accounting for nearly 90% of total liquidations—over $10 million of $12 million liquidated in the past 24 hours.
Short positions accounted for only about $1.73 million of the total.
For bulls, a decisive move back above $1 remains critical to regain momentum.
Conversely, continued selling pressure below $0.85 would likely hand control to the bears.