Aster Price Drops 8% Amid Whale Sell-Off and Airdrop Concerns
Aster's price has plummeted 8.08% over the past week, defying broader market stability as Bitcoin posted gains. The token now trades at $1.20 with a $2.42 billion market cap, while $515.03 million in volume suggests active trading.
Whale activity triggered the downturn—two major wallets dumped $22.88 million worth of ASTER onto exchanges, sparking panic selling. Compounding the pressure, stage 3 airdrop rewards representing 4% of total supply loom, raising dilution fears.
Technicals turned bearish after price breached the $1.18 support level, forcing trader exits. The 4-hour chart shows ASTER testing the lower Bollinger Band at $1.12 before a slight recovery. RSI at 45 indicates weak buying interest.
Reclaiming $1.19 could open a path toward $1.59 and $1.83 targets, but $1.18 now acts as resistance. 'When whales move, retail trembles,' observes a trader watching the order books.
