Aster (ASTER) has been trading in a descending channel since being rejected at $0.79 in early March. Recently, the altcoin trend has eased, consolidating between $0.65 and $0.68.
In fact, at press time, ASTER was trading at $0.65, up 0.06% on the daily chart but down 1.8% on the weekly chart.
With the market stuck in a tight range, long-term investors are starting to sell their holdings. According to Arkham data, a whale transferred 4.96 million ASTER worth approximately $3.25 million to a new address.
After the transfer, the whale then deposited it into the AsterDex. The decision to transfer to the AsterDex means two things: either selling or staking.
But based on past market behavior, the whale will likely close its positions. Indeed, the whale has accumulated $80.61 million worth of $ASTER, with a maximum of $1.61 per ASTER in September 2025.
Since then, the ASTER token has fallen by 59.3%. So, with the transfer, the whale faces a loss of $4.74 million.
ASTER dynamics are strongly bearish
As long-term holders shift their holdings, ASTER is under extreme downward pressure, resulting in stronger downward momentum.
Looking at the Momentum Shift indicator, it has remained negative for almost 30 days in a row. At press time, the indicator was hovering around -0.05, suggesting that sellers have exerted lasting control over the market.
Likewise, the DMI Modified also remained in the negative zone for almost two weeks, further confirming the market weakness. With these two market indicators set as they are, the altcoin will likely experience prolonged weakness.
Continued bearish pressure could see ASTER break the $0.64 support and fall towards it.
The Spot market still gives hope for a recovery
Interestingly, even though ASTER is seeing strong downward momentum, it appears that sellers are already exhausted. As a result, buyers took the opportunity to get back into the market and began aggressively hoarding at a discount.
Data from CoinGlass shows that exchange exits have largely dominated the market. For example, over the last 5 days, $77.14 million worth of ASTER was withdrawn from trading, compared to $71.6 million inflows.
As a result, Spot Netflow fell to -$5.49 million over the same period and even declined further in shorter periods. A dominant leak suggests that buyers are increasingly coming back and trying to absorb the growing selling pressure.
So, even though buyers started piling in, demand remained insufficient to drive the altcoin’s recovery, resulting in a sideways movement.
If demand holds as seller exhaustion hits the market, ASTER will likely break through the $0.7 resistance and aim for $0.76.
Final Summary
- A whale transferred 4.96 million ASTER worth approximately $3.25 million to new addresses and deposited them into AsterDex.
- ASTER remains range-bound, trading between $0.65 and $0.68, but Spot activity shows seller exhaustion and a recovery in demand.
