ASTER Price Risks Another 10% Drop as Loyal Whales Dump Over $2 Million
ASTER price faces potential further decline as loyal whales sell over $2 million, confirmed by bearish derivatives and smart money indicators.Summary
The ASTER token price is under significant pressure, having dropped nearly 20% over the past week, with charts suggesting an additional 10% downside risk if key support fails. This selling pressure is notable because Aster's most loyal whales, who previously accumulated during dips, have begun selling, offloading approximately 2.97 million tokens, equating to over $2 million in spot sales in the last 24 hours. Derivatives data corroborates this bearish sentiment, as the top 100 addresses show a 34.42% reduction in positioning, with the remaining exposure being net short. Furthermore, the Smart Money Index has been declining since late November, indicating informed traders are distributing rather than accumulating. Technically, ASTER is trading within a falling wedge; a break below the lower trendline targets $0.66, implying a 10% drop, with deeper risk towards $0.55. A bullish reversal requires the price to reclaim $0.96, the upper boundary of the wedge.
(Source：BeInCrypto)