Aster is seeing its first major pullback since launch. After weeks of steep gains, the token dropped over 15% today, falling below $1.80 for the first time since its rally began. The move follows a series of lower highs and growing signs of weakening momentum.
The correction comes after ASTER failed to hold the $2 level – a price it had repeatedly defended throughout the past week. Despite the drop, the token remains up 13.5% over the last seven days, suggesting that some traders may simply be locking in profits after a sharp early move.
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Technical Breakdown Turns Bearish
On the four-hour chart, ASTER now trades below most key moving averages, both exponential and simple. Momentum has clearly shifted. The Relative Strength Index (RSI) has fallen to 45, suggesting weakening demand, though it hasn’t yet entered oversold territory.
Other indicators, such as the Awesome Oscillator (AO), have flipped negative, and the short-term trend has started to show bearish divergence. With the loss of $2 as support, the next area traders are watching is the $1.65-$1.76 range, where previous buy interest was seen.
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CZ Clarifies Role, Market Reacts
The drop may also have been accelerated by comments from Binance founder Changpeng Zhao (CZ), who addressed speculation around his involvement with Aster. CZ said neither he nor Binance officially backs the project.
While former Binance employees are part of the Aster team, CZ emphasized that he is not directly affiliated, though he confirmed he has offered informal guidance as an advisor. His remarks appear to have cooled speculation that Aster was a Binance-endorsed project – a perception that had likely contributed to its early hype.
What Comes Next
Today’s move marks the first time Aster has shown clear technical weakness since launch. Some of the selling may be tied to broader market caution, but the timing of CZ’s clarification likely played some role in dampening sentiment.
Whether this turns into a deeper correction remains to be seen. The project continues to post strong trading volume and remains one of the most active new platforms in the space. But with early expectations now tempered, ASTER may face its first real test: how it performs when the hype fades.
