- A crypto whale invested $113M in ASTER and is now facing a $64M loss as the price drops from $1.66 to $0.70.
- RSI is oversold in the high 20s, indicating a possible relief bounce, but overall momentum remains weak.
- The whale still holds 63.22 million ASTER tokens, worth $45.52M, with long-term targets between $10 and $20.
A major crypto whale is facing heavy losses after placing a massive bet on ASTER, according to Lookonchain data. The investor accumulated 68.25 million tokens at an average price of $1.66, spending roughly $113.34 million across 15 different wallets. This strategy suggested long-term conviction but left the position exposed to the token’s sharp downturn.
Source: Lookonchain
Approximately five hours ago, the whale sold 4.68 million ASTER at $0.71, getting $3.34 million and incurring a substantial loss. This whale holds 63.22 million tokens, which are currently worth close to $45.52 million. Both the realized and unrealized losses have crossed the magnitude of $64 million, which ranks among the most prominent whale drawdown incidents associated with the ASTER token.
Also Read: Aster Shield Mode Launch Sparks Optimistic Hope for ASTER Price Recovery
ASTER Holds $0.70 Support, Eyes $20 Long-Term Target
Moreover, the crypto analyst, Crypto Patel, highlighted that the ASTER price has since retraced back to the $0.70 region, hitting exactly the same spot that was identified in the previous analysis as the first accumulation region. The identified region appears to be a demand region where purchasing activity is just about to absorb the selling action. Technically, it appears that $0.70 might just end up being a base.
Source: Crypto Patel
In terms of an accumulation perspective, the key level is still centered at 0.70, with a secondary level at 0.50 only in the event of further weakness. Despite short-term market uncertainty and possible short-term movements, the fundamental outlook remains intact, with model-predicted levels of $10-$20 again targeted under complementary market conditions.
ASTER Technicals Suggest a Corrective Phase
The 4-hour chart for ASTER is firmly bearish, as there are lower highs and lower lows below the 20-period SMA. The proximity to the lower Bollinger Band indicates excessive selling, while levels around 0.75 to 0.86 are significant resistance, and 0.68 represents temporary support. Volatility still trends negatively, keeping market control firmly with the sellers.
Source: TradingView
Momentum indicators reinforce the bearish bias as the MACD remains in the bearish zone despite a slight improvement in the histogram. RSI is highly oversold in the late 20s; thus, it may rebound soon but does not yet signal an opportunity to buy. Overall, ASTER looks weak with only possible support at current levels unless it recovers the moving average and the middle Bollinger Band.
Also Read: Aster DEX Buybacks Could Drive ASTER Price Toward $1.10 Breakout
