Aster has set crypto traders abuzz with a powerful price rebound, up 9.89% in one day and a striking 32.77% weekly gain. With its $3.17 billion market cap registering steady growth and a surge in both volume and onchain activity, Aster’s climb isn’t just about hype. It’s the result of a high-profile whale action, combined with platform fee milestones, and technical signals attracting both short-term traders and longer-term believers.
Major players have made bold moves in the Aster ecosystem in the past 24 hours. Most notably, celebrity investor MrBeast, who purchased over 167,000 ASTER tokens, worth $305k. At the same time, as per Defillama, Aster’s daily fee haul is topping $14.3 million, more than Uniswap, and second only to Tether.
On September 29, its perpetual trading volume reached an eye-popping $42 billion, outpacing crypto trading heavyweights dYdX and GMX. The “Trade & Earn” model, delivering yield to users on their trading collateral, continues fueling platform adoption and token demand.
Aster’s 27% price drop from its all-time high near $2.43 found support at the $1.83 pivot, which is now a critical floor. The bounce to $1.97 signals that buyers are stepping in on dips. With the 7-day RSI at 69.56, there is momentum but not overheated conditions yet. The 7-day SMA at $1.94 forms the first test for bulls. A clear close above this level could reignite the Aster crypto price for an upside, with $2.12 and $2.37 as potential next targets.
However, caution lingers: futures market outflows of nearly $140 million over seven days. This shows that some speculators are trimming positions after Aster’s huge rally. With an 8.8% token unlock approaching on October 17, holding above $1.83 will be key to maintaining market confidence.
Aster’s rally was sparked by large whale purchases and record daily protocol fees, signaling both influential backing and strong, real-world usage.
The crucial support is at $1.83, with resistance first at $1.94 and potential targets at $2.12 and $2.37 if momentum stays strong.
The sustainability depends on staying above $1.83 support, continuous fee generation, and monitoring October’s token unlock and whale movements.
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