- Aster price plunged 20% toward $1 as selling pressure hit altcoins
- The altcoin reached an all-time high of $2.42 in September but has tumbled amid broader market sell-off.
- Altcoins dumped as Bitcoin fell below $106,000.
Aster (ASTER)’s parabolic gains over recent weeks have quickly faded as the cryptocurrency market slumps.
The decentralized exchange’s governance token dropped nearly 20%, approaching the $1 support level as bulls succumbed to wider selling pressure.
Aster has wiped out substantial gains, and continued market risk could allow bears to take control.
Aster price extends decline amid 20% drop
With crypto in the red early Friday, Aster’s price plunged about 20% to reach a low of $1.08 across major exchanges and trading platforms.
After previously trading above $1.36, the double-digit decline over the last 24 hours put ASTER among the largest losers alongside Zcash, Mantle, SPX6900 and Morpho.
Aster’s sharp slide continues a multi-day downtrend after bulls failed to hold gains near $1.60.
The token had surged to that level following a rebound from lows seen during the broader crypto crash on June 10.
The past week has seen Aster’s price drop more than 32% as profit-taking and macroeconomic headwinds dented sentiment.
The next-generation decentralized perpetuals and spot exchange, built on the BNB Chain, had previously drawn notable attention from both investors and traders.
Aster’s rapid ascent was also boosted by recent listings on major platforms such as Robinhood and Binance, which helped fuel early momentum.
However, the euphoria appears to be fading as selling pressure across cryptocurrencies accelerates.
Bitcoin fell below $105,000 early Friday. As bears pushed a low of $104,597 after a 4% drop over the last 24 hours, top altcoins plunged.
Ethereum, Solana and XRP all slid to or below key support levels, amplifying the market rout.
What comes next as Aster hovers near the $1 mark?
At present, Aster’s price is flirting with the psychological $1 threshold.
This is a critical level bulls must defend to avoid ceding further ground.
As recent charts show, prices have been consolidating around this key area.
However, the sharp decline and breakdown from a descending triangle pattern suggest bulls face the risk of further pain.
The token’s all-time high of $2.42 set on September 24 has been largely erased.
That said, technical indicators like the Relative Strength Index (RSI) on the daily ASTER chart show oversold conditions.
Oversold readings imply that exhausted selling could give bulls a chance to push for a rebound.
Still, renewed downward pressure could cause the $1.00 support to collapse.
Data from Coinglass indicates a sharp drop in open interest for Aster, now around $477 million.
Bullish 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 cleared in the past 24 hours.
Short positions represented only about $1.73 million of that total.
For bulls, a decisive breakout above $1 remains critical to regain momentum.
Conversely, sustained selling below $0.85 would likely hand control to the bears.