The bearish sentiment surrounding Aster (ASTER) has risen lately, as interest from large investors appears to be fading while the price moves sideways. In fact, at the time of writing, the altcoin was down 2.25% while trading at $0.652 on the charts.
Selling pressure on the rise
A report from crypto transaction tracker Lookonchain revealed that a whale who purchased 68.25 million ASTER tokens for $113 million has now dumped half of their holdings, 34.62 million tokens worth $22.95 million. Soon after the sale became public knowledge, the crypto’s price dipped by 4.4%.
Here, what seems alarming is the sudden decision by this whale to halve their ASTER position, despite the price trading largely sideways since February 2026.
In fact, some popular traders are also sharing that they have lost interest in the asset. In a post on X, a trader noted that they are rotating their ASTER holdings into HYPE, the native token of Hyperliquid.
Not only large players, but traders also appear to be following the same trend, as disclosed by analytics platform Nansen. According to the same, the top 100 addresses have reduced their ASTER holdings by 62.60% over the last 24 hours – A sign of growing selling pressure on the crypto.
Meanwhile, data from Coinglass revealed that ASTER’s long/short ratio fell to 0.7908 – The lowest since the beginning of April 2026.
This seemed to indicate that bearish sentiment has been strengthening, with traders increasingly favoring short positions over longs right now.
ASTER chart hints at potential recovery, but conditions apply
Despite all these bearish developments, ASTER’s daily chart appeared to tell a different story though.
At the time of writing, the altcoin’s price seemed to be moving sideways between the lower and upper boundaries of $0.625 and $0.755, despite a minor uptick over the last 24 hours.
If ASTER remains above the $0.625-level, it is likely to climb again towards the upper boundary. However, if the asset falls below this level or closes a daily candle beneath the lower boundary, it could potentially see a sharp decline, as there is no immediate support at the moment.
At press time, the technical indicator Average Directional Index (ADX), which measures trend strength, stood at 17.92. This indicated that the crypto has weak directional momentum.
Additionally, Coinglass data highlighted key liquidation levels at $0.622 (support) and $0.677 (resistance). Intraday traders seemed heavily leveraged at these levels, with $2.09 million in long positions and $2.19 million in short positions – A sign that bears might just have the upper hand.
Final Summary
- A crypto whale dumped 34.62 million ASTER tokens worth $22.95 million after holding them for seven months.
- Despite a mild recovery, upside momentum will depend on the altcoin holding a few key levels.
