Will Aster Break Long Term Resistance Amid Whale Accumulation?
Aster (ASTER) is increasing the possibility of a short-term directional shift as it moves to test a long-term resistance line, supported by whale accumulation and a surge in perpetual futures trading.
According to investment media outlet FXStreet on February 10 (local time), Aster rose more than 7% intraday, climbing above the 200-period exponential moving average on the four-hour chart, while on the daily chart it is testing a long-term resistance trendline connecting highs from October and November last year. During the same period, 24-hour trading volume on exchanges offering Aster-based perpetual futures reached $4.1 billion, surpassing rival platform Hyperliquid.
On-chain data highlights notable activity from whale investors. Over the past five days, large wallet addresses have net accumulated more than 170 million ASTER, a movement interpreted as a key driver supporting the V-shaped price rebound. According to Santiment, holdings among addresses owning between 100 million and 1 billion ASTER have begun increasing again, signaling a revival of medium- to long-term expectations.
Derivatives markets, however, are sending mixed signals. Data from Coinglass shows Aster futures open interest at $299.82 million, down 2.42% over the past day, indicating that aggressive follow-on buying by retail investors remains limited. The open-interest-weighted funding rate has also declined to 0.0088%, suggesting cautious positioning in the short term.
From a price perspective, the area around $0.630 is considered a key inflection point. A clear breakout above this level on the daily chart would confirm an upward break from the trendline and open room for further upside. In the short term, the $0.698–$0.718 range is cited as the next resistance zone, and a move beyond it could allow for an extension toward $0.812.
Technical indicators support short-term bullish dominance. On the four-hour chart, the Relative Strength Index stands at 64, indicating a buyer-favored environment, while the Moving Average Convergence Divergence is rebounding above its signal line, pointing to a recovery in upward momentum. However, the 50-period exponential moving average at $0.586 and the pivot support near $0.467 remain key defensive levels in the event of a pullback.
*Disclaimer: This article is for investment reference only, and no responsibility is taken for any investment losses incurred based on it. The content should be interpreted solely for informational purposes.*
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