- Aster (ASTER) and Telcoin (TEL) are the altcoins with the sharpest declines over the last 24 hours.
- The broader cryptocurrency market shows weakness amid Bitcoin’s price dip.
- Top altcoins are down as investor jitters increase.
Aster’s price dropped sharply, joining Telcoin among tokens posting double-digit losses in the past 24 hours.
Ethereum, XRP and Solana were among the larger altcoins that lost gains after Bitcoin (BTC) slipped below $86,000, amplifying downside pressure across the market.
ASTER and TEL face the risk of further declines as selling pressure intensifies, even though BTC has bounced slightly back above $86,000. The prevailing risk-off sentiment in the market does not bode well for risk assets such as these altcoins.
Aster dips 12% as bulls lose key support
Aster has extended losses for a third consecutive day, falling beneath the $0.80 level.
At the time of writing, ASTER is down more than 12%. A break below $0.77 could expose the token to a deeper slide toward $0.54 if selling momentum continues.
Momentum indicators underscore the cautious outlook. On the four-hour chart, the Relative Strength Index (RSI) has moved into oversold territory.
While an oversold RSI can sometimes signal a potential reversal as selling eases, it can also leave room for further capitulation before any meaningful rebound occurs.
The Moving Average Convergence Divergence (MACD) remains firmly negative. A recent bearish crossover reinforces the prevailing negative bias amid wider market dynamics.
What could bolster ASTER bulls?
As with many newer tokens, Aster has experienced significant profit-taking. Still, the project has announced developments that could help restore investor confidence if market conditions improve.
Notably, Aster revealed a Shield Mode—a protected trading option planned for its perpetuals platform. The feature is designed to allow private position opening and management, among other safeguards aimed at preserving trader anonymity and reducing front-running risks.
“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’re exploring with Aster Chain,” the team said on X.
Telcoin price risks further losses
Telcoin is down 12.7% at the time of publication on Tuesday, extending a run of losses amid the broader crypto market pullback.
The TEL token has now fallen for six straight days, turning negative as Bitcoin’s slide below $90,000 weighed on market sentiment.
During the broader correction, TEL has lost roughly 25% over the past week and has broken below a key September support near $0.0040.
If that psychological support gives way, Telcoin could slide toward $0.0027 and might even retest November 2024 lows near $0.0014 if selling intensifies.
Daily technicals point to accelerating bearish momentum. The RSI is trending lower, and the MACD recently produced a bearish crossover—both indicators that favor continued downside pressure unless market conditions shift.