Key takeaways
Why are traders becoming bullish on ASTER?
Funding rates turned positive at 0.007%, showing a long-term bias as TVL climbed to $2.18 billion.
Will ASTER’s momentum continue?
The resistance near $1.8 remains the obstacle: if the bulls cross it, the rally could continue in the short term.
Decentralized perpetual exchange Aster (ASTER) has regained investor confidence by finalizing plans to deploy an airdrop.
The effect was positive on price performance, with 4% of its native token allocated to the airdrop. Following this announcement, the token rebounded by 20% at the start of the day, while capital inflows remained strong.
Whether this trend will lead to a lasting bullish outcome for ASTER remains to be seen, but market analysis offers some potential guidance.
On-chain liquidity on the rise
There was a notable increase in on-chain liquidity as the market continued to regain confidence.
Aster’s total value locked (TVL), which measures the level of on-chain investor interest in an asset, increased by $141 million over the past day to recoup $2.16 billion.
Source: DeFiLlama
This increase was accompanied by a significant increase in trading activity, with decentralized exchange (DEX) volumes reaching $262 million in the last 24 hours. This indicates that investors are actively accumulating more ASTER.
Over the past seven days, total volume reached $2.24 billion, according to recent data.
However, a change has occurred: Aster perpetual exchange has yet to reclaim its place among the top 15 perpetual protocols with high liquidity levels in the market.
Bullish fever among retailers for ASTER
Retail investor activity on centralized exchanges has provided a more detailed view of market conditions.
Data from CoinGlass indicated that retail traders placed more long positions than short ASTER over the past day.
This trend is reflected in the weighted open interest funding rate, which turned positive at 0.0072% after remaining negative for two consecutive days.
Source: CoinGlass
An observation of the Relative Strength Index (RSI) chart showed that it also returned to the positive level after remaining neutral for around four days.
Whenever the RSI enters a positive zone, it usually signals that bullish momentum is strengthening, potentially allowing prices to move higher on the chart.
Resistance ahead despite optimism
Despite the growing bullish sentiment, the momentum building around ASTER does not guarantee a direct rally. ASTER now faces a resistance zone marked by dense supply clusters around the $1.75 to $1.80 range.
Source: TradingView
A rejection could stall the recovery and push prices back if momentum fades.
Nonetheless, the market tone remains constructive, supported by trading levels of $1.44 and sustained on-chain engagement.
