- Aster price plunges 20% to near $1 as altcoin sell-off intensifies
- The altcoin hit an all-time high of $2.42 in September but has slid amid a broader market rout.
- Altcoins capitulated as Bitcoin fell below $106,000.
Aster’s (ASTER) recent parabolic gains evaporated quickly after a sharp crypto market decline.
The governance token for the decentralized exchange fell nearly 20% approaching the $1 support level as its price was swept up in wider selling pressure.
Aster has wiped out significant gains, and broader downside risks may keep price action under pressure.
Aster price extends decline amid 20% drop
With markets painted red on Friday morning, Aster plunged roughly 20% to reach a low of $1.08 across major exchanges and trading platforms.
After trading above $1.36, the double-digit fall over the past 24 hours left ASTER among the biggest losers alongside Zcash, Mantle, SPX6900 and Morpho.
The sharp slide extended a multi-day downtrend after gains failed to hold near $1.60.
The token had surged following a rebound from the lows seen during the October 10 crypto sell-off.
Over the past week, Aster’s price has dropped more than 32% as profit-taking and wider macroeconomic headwinds weighed on market sentiment.
The next-generation decentralized perpetuals and spot exchange built on the BNB Chain had previously attracted notable interest from investors and traders.
Rapid price gains were supported by recent listings on major platforms such as Robinhood and Binance, which fueled early momentum.
However, the euphoria appears to have faded as selling pressure across the crypto market increased.
Bitcoin fell below $105,000 early Friday, and after dipping to $104,597 — a roughly 4% decline over 24 hours — large-cap altcoins tumbled.
Ethereum, Solana and XRP all slipped to or through key support levels, amplifying the sell-off.
What’s next as Aster revisits the $1 level?
At present, Aster is trading near the psychological $1 threshold.
This is a critical level bulls must defend to avoid giving up further ground.
As shown in the chart below, price recently consolidated just above this key mark.
However, the steep drop and breakdown from a descending triangle pattern mean the token remains at risk of further losses.
The token’s all-time high of $2.42 on September 24 now looks distant.
Technical indicators, such as the daily Relative Strength Index (RSI), place ASTER in oversold territory.
This suggests that exhausted selling could open the door for a relief rally.
Nonetheless, renewed downside pressure could see the $1.00 support tested and potentially broken.
Data from Coinglass shows a sharp drop in open interest for Aster, now sitting at $477 million.
Long positions bore the brunt of the correction, with long liquidations accounting for nearly 90% of total liquidations — more than $10 million of $12 million in the past 24 hours.
Short positions represented about $1.73 million of the overall liquidations.
For bulls, a decisive breakout above $1 remains critical to regain momentum.
Conversely, sustained selling below $0.85 would likely hand control to bears.