- Aster (ASTER) and Telcoin (TEL) were the steepest-declining altcoins over the past 24 hours.
- Bitcoin’s price slide has left the broader crypto market showing signs of weakness.
- Leading altcoins fell, heightening investor anxiety across the market.
Aster’s price plunged sharply, joining Telcoin in posting double-digit losses in the last 24 hours.
Ethereum, XRP and Solana were among the top altcoins that followed Bitcoin lower after BTC fell below $86,000.
With selling pressure increasing, ASTER and TEL face the risk of further losses. Although BTC briefly recovered above $86,000, net flows remain negative according to market reports.
Risk-off sentiment is spreading across the market, which is rarely a positive indicator for altcoins.
Aster falls 12% as bulls lose critical support
Aster recorded losses for the third consecutive day, falling below the $0.80 mark.
At the time of writing, ASTER was down more than 12%. If it breaks $0.77, the token could drop further toward $0.54.
Momentum indicators call for caution. On the four-hour chart, the Relative Strength Index (RSI) has moved into oversold territory.
While oversold readings can precede a relief rally when selling eases, they also leave room for further declines before any sustained rebound materializes.
The Aster price chart
Additionally, the moving average convergence divergence (MACD) remains firmly in negative territory.
A recent bearish crossover confirmed the dominant negative outlook amid broader market weakness.
What could support ASTER bulls?
Like many newer projects, Aster experienced significant profit-taking after recent gains.
However, development updates on decentralized perpetual trading could help restore investor confidence.
One notable update is Aster’s announced Shield mode, a protected trading option the DEX plans to integrate into its perpetuals platform.
The feature is designed to enable the opening and management of private positions and other privacy-related trading functions.
The team posted on X: “Shield mode is suited for traders who want to act without revealing their next move — today it’s a protected execution mode and an early foundation for the Aster Chain privacy features we’re exploring.”
Telcoin price risks further losses
As of Tuesday’s market close, Telcoin was down 12.7%.
The altcoin has continued to slide amid the broader market downturn.
TEL has fallen for six consecutive days, coinciding with Bitcoin’s drop below $90,000 and a shift in market sentiment.
The Telcoin price chart
During the ongoing market correction, TEL lost roughly 25% over the past week and breached the psychological support at $0.0040 established in September.
If this psychological level fails to hold, Telcoin could fall to $0.0027 and potentially retest the November 2024 low near $0.0014.
On the daily chart, bearish momentum appears to be accelerating. Recent declines in the RSI and a bearish MACD crossover add weight to the negative outlook.