Aster drop reach $1.09 because whale dump and futures sell-off
Aster price don drop from over $2 go down to $1.09 after big whale dem sell plenty and serious futures liquidation. On-chain info from Nansen show say whales offload pass 62.6 million Aster tokens inside 24 hours, including 17.9 million send to Binance and Bybit. Futures traders close $2.3 billion position inside three days as contract netflows hit bottom at $154 million. Meanwhile, retail investors still dey buy for spot market despite five days negative netflow totaling $22 million. Technical indicators confirm say e oversold, RSI dey 39 and stochastic RSI dey 8.7. If e break the key $1 support, e fit push Aster price go down to $0.85, but if e bounce back, e fit test resistance levels for $1.39, $1.50, and fit reach $2.26.
Bearish
Di pressure wey come from big whale sell-offs and aggressive futures liquidation don push Aster price sharply down, e show say bearish momentum strong well well. On-chain metrics dey show say heavy net outflow dey from whales, plus say futures traders don commot from over $2.3 billion positions, wey make the drop worse. Technical indicators weh dem dey confirm oversold conditions, e mean say near-term support no too dey. Even though retail accumulation dey show say some buyers still dey interested, the fact say key support levels don break mean say more downside risk still dey. So, overall market view still bearish for Aster for short and medium term, until better signs of demand recovery or less selling pressure show.