- Aster (ASTER) and Telcoin (TEL) are the altcoins with the steepest declines in the past 24 hours.
- The broader cryptocurrency market shows weakness following a drop in Bitcoin’s price.
- Major altcoins are falling as investor nerves rise.
The price of Aster plunged sharply as the token joined names like Telcoin in posting double-digit losses over the last 24 hours.
This move came as Ethereum, XRP and Solana led top altcoins lower after Bitcoin (BTC) slipped below $86,000.
ASTER and TEL face the risk of further losses as selling pressure increases, particularly while BTC trades negatively despite a modest bounce above $86,000.
The prevailing risk-off sentiment across markets does not bode well for altcoins.
Aster falls 12% as bulls lose a key support level
Aster extended its declines for a third consecutive day, slipping below the $0.80 mark.
At the time of writing, ASTER is down more than 12%. A break beneath $0.77 could open the door to a deeper drop toward $0.54.
Momentum indicators highlight a cautious outlook. On the four-hour chart, the Relative Strength Index (RSI) has moved into oversold territory.
That could signal a potential reversal if selling pressure eases, but it also leaves room for further capitulation before any sustained recovery can take hold.
The Moving Average Convergence Divergence (MACD) indicator also remains firmly negative.
A recent bearish crossover confirms the dominance of a negative outlook in wider market dynamics.
What could support ASTER bulls?
Like many newer tokens, Aster has seen large profit-taking moves.
However, the decentralized perpetual exchange has announced key developments that could help restore investor confidence.
One notable update is Aster’s announcement of “Shield Mode,” a protected trading feature the DEX plans to integrate into its perpetuals platform.
This feature will allow traders to open and manage private positions, among other privacy-focused offerings.
“Shield Mode is for traders who want performance without revealing their next move — today a protected execution mode and an early building block for privacy features we are exploring with Aster Chain,” the team wrote on X.
Telcoin price risks further losses
Telcoin fell about 12.7% as of Tuesday’s publication.
As shown in the chart below, the altcoin’s price is extending recent losses amid broad cryptocurrency weakness.
TEL is down for a sixth straight day, slipping into negative territory as Bitcoin dipped below $90,000.
Amid the ongoing broad market correction, TEL lost 25% over the past week and broke below the September support at $0.0040.
If that psychological support fails, Telcoin could slide toward $0.0027 and potentially retest the November lows near $0.0014.
The daily chart shows bearish momentum accelerating for the token. A falling RSI and a MACD that recently printed a bearish crossover reinforce this downside bias.