- A whale withdrew $250K in ASTER from Gate and continues accumulating despite a ~50% unrealized loss.
- The token is gaining spot interest, with risk near 0.546 and upside targets at 0.9, 1.1, and 1.3.
- Liquidity above current levels points to upside potential toward $1.00–$1.15 and rising short squeeze risk.
Among the most evident on-chain transactions is that of wallet 0x1635…50b2, from which $250K worth of tokens was withdrawn from the Gate exchange. This action seems like it is also tied to accumulation, given that wallet 0x1635…50b2 has also been acquiring ASTER for over three months.
Source: Onchainschool.pro
It currently holds about 1.6 million worth of tokens despite experiencing an unrealized loss of almost 50%. It is expected that instead of decreasing their holdings, they decided to continue with their accumulation, showing their belief in the future prospects presented by the project despite the current challenges it faces due to its loss of value.
Also Read: Aster DEX Launches Fifth Buyback Phase to Support ASTER Token Value
ASTER Support Holds, Targets 0.9 to 1.3 in Gradual Rally
However, the crypto analyst, Nehal, highlighted that the ASTER token is gaining significant momentum after a spot-market investment opportunity as overall attitudes towards new altcoins continue to improve. The token, trading at a level close to the key support, remains a subject of interest for traders seeking organized buying as overall momentum for the entire crypto market continues to return.
Source: Nehal
On a technical analysis, ASTER is possibly establishing a strong foundation with risks bounded by a stop-loss placement at 0.546, while other targets lie at 0.9, 1.1, and 1.3. The placement of targets in an incremental manner reflects the potential for a gradual upmove, provided market forces continue to push it in an upward manner.
ASTER Liquidity Setup Hints a Bullish Breakout to $1.15
Moreover, another crypto analyst, Peak, revealed that the market structure for ASTER is changing nicely, with liquidity placed above current market levels instead of below them. Such a configuration is normally an indicator of an upside pressure, as market levels always drift towards these zones of liquidity to restore market balance. Therefore, a relief rally to at least the $1.00 – $1.15 zone is more likely than before.
Source: Peak
This setup also increases the possibilities of a short squeeze scenario where the bears will be obliged to cover their positions as the price continues to rise. If the buying force continues to gather pace with the reclaiming of critical levels of resistance, there might be a swift movement seen in the price of the token.
Also Read: ASTER Faces Descending Triangle, Support Holds Near $0.4740
