ASTER rallied heavily on August 21st, driven by market optimism over regulation for decentralized perpetuals exchanges after Trump announced the CFTC was working to bring Hyperliquid into U.S. markets. Market conditions shifted amid the renewed trade war between the U.S. and Canada, causing the broader crypto market to retrace. ASTER fell from $0.77, breached the $0.7 support level, and plunged to $0.61 — a 15% drop — before slightly recovering. As of this writing, ASTER traded at $0.63, down 8.3% on daily charts, with trading volume falling 50%.
ASTER rallied on August 21st, driven by market optimism over regulation for decentralized perpetuals exchanges following Trump’s announcement that the CFTC was working to bring Hyperliquid into U.S. markets. Market conditions shifted amid the renewed trade war between the U.S. and Canada, triggering a broader crypto retracement.
ASTER fell from $0.77, breached the $0.7 support level, and plunged to a low of $0.61, marking a 15% drop. As of this writing, the token traded at around $0.63, an 8.3% decline on daily charts, with trading volume down 50%.
Over the past day, over $4.6 million worth of long positions were liquidated. This long squeeze prompted other traders to hurriedly close their positions, fearing liquidation.
ASTER’s Open Interest dropped 18.8% to $309.1 million, while derivatives volume plunged 47% to $434 million. Perpetuals Sell Volume rose to 28 million against buy volume of 17.8, with Delta volume at -10.2 million and net buying at -28 million — a clear sign of aggressive selling.
Futures outflows rose to $80.4 million while inflows dropped to $66.6 million. Netflow dropped to -$13.76 million, further confirming the selling activity.
With intense sell pressure, ASTER’s RSI dropped to 54 from 87. Since it still holds above 50, buyers remain active, but further pressure could push the RSI below 50, confirming a bearish trend. If that happens, ASTER would drop below $0.6, with $0.59 as key support. A daily close above $0.65 would invalidate this bearish outlook.
