Trader 0x38fD made a high-conviction move in the ASTER market after succumbing to FOMO, according to Lookonchain, as of Friday, January 23.
Instead of waiting for a pending limit order to execute, the trader aggressively entered a 5x leveraged long position, signaling urgency amid fast-moving price action and heightened short-term market momentum during a volatile trading session globally.
Source: Looknchain X Post
The position totaled 2.96 million ASTER tokens, worth roughly $1.86 million, with an entry price of $0.6295. By choosing leverage over patience, the trader amplified risk exposure, as a 5x long magnifies both gains and losses during sharp price fluctuations common in volatile, momentum-driven crypto derivatives markets worldwide this week.
Also Read: ASTER Falling Wedge Nears Completion, Targets $2.25 Breakout
ASTER Falling Wedge Hints at Breakout to $0.74
Following this strong on-chain milestone, traders are currently focused on ASTER’s market value. On Monday, 26 January, a crypto analyst named crypto-jobs highlighted that the price is still stuck in a falling wedge pattern, while the daily RSI also shows signs of bullish momentum.
However, resistance levels at $0.640, $0.660, $0.680, and $0.740 need to be cleared with strong volumes to confirm a genuine move. However, the current momentum is slightly on the downside.
Source: Crypto_Jobs X Post
Without the buying support, the price of ASTER may fall towards the $0.500 psychological price level. It is recommended that traders be patient and watch the breakout structures. The next few days are going to be key in determining the short-term direction of the price of the token.
ASTER Technicals Suggest Improving Momentum
According to TradingView, as of Monday, 26th January, the 4-H chart indicates that ASTER’s price has been in a bearish pattern, trading below the key EMA levels (20, 50, 100, 200).
The rapid fall in its price between the 19th and 21st of January led the token to touch the lower Bollinger Band. The token’s price at $0.597 is temporarily supported, forming a base for the token to rise
Source: TradingView
The current bounce saw the price reach the mid-band. However, the bulls’ strength is still weak around this level. This indicates that sellers are still in control and that resistance is likely to be around the $0.640-$0.664 region.
However, the level of $0.597 is important, and a break below it could result in further downward pressure.
Also Read: ASTER Nears Key Support: Rebound to $0.98 or Drop Toward $0.35?
