ASTER Rallies 12% After Kraken Listing, Eyes $1.3 Breakout
ASTER rallied 12% in two days following a three-day dip after its Kraken listing, driven by renewed bullish momentum and fresh capital inflows. Funding rates on derivatives platforms turned positive at 0.0123%, indicating long traders are paying premiums to shorts. Open interest in ASTER futures surged by over $62 million to $483.66 million, according to CoinGlass data, reflecting growing market participation. Traders now eye the critical $1.3 resistance level. A decisive break above could spark further upside, while rejection may lead to profit-taking. Overall, ASTER’s swift recovery post-Kraken listing highlights strong demand and a maturing market structure, making it a key altcoin to watch for near-term bullish momentum.
Bullish
The 12% rally in ASTER post-Kraken listing underscores renewed buying interest. Positive funding rates show longs paying premiums to shorts, a classic bullish signal in derivatives markets. The $62 million surge in futures open interest points to fresh capital entering ASTER positions, not just speculative trades. In the short term, breaking and holding above the $1.3 resistance could trigger further upside and increase liquidity. However, a rejection may lead to profit-taking and short-term volatility. Over the longer horizon, sustained high open interest and bullish funding rates reflect a maturing market structure and growing confidence among traders, supporting a continued uptrend for ASTER.