Aster (ASTER) has experienced volatile trading in recent weeks, with a sharp 53.85% bounce from its lows being countered by a prevailing bearish market structure. Analysts point to a significant upcoming token unlock valued at approximately $44.49 million, scheduled for February 17, as a potential source of selling pressure, despite long-term support from the project’s buyback fund.
The cryptocurrency Aster rallied to a high of $0.711 in late January before receding rapidly to a low of $0.403. This low was set in the aftermath of a wider market sell-off when Bitcoin fell to the $60k level. Since registering this low, ASTER prices have bounced 53.85% in just three days.
Despite the recent bounce, the 1-day price structure remained bearish. Key overhead resistances to watch are at $0.725 and $0.656, according to chart analysis.
Aster will have a $44.49 million unlock of 78.11 million ASTER tokens on 17 February. The tokens need not be immediately sold, but unlocks dilute existing supply.
The current market sentiment adds credibility to a potential wave of selling later in February. The token buybacks by the Strategic Reserve Buyback Fund demonstrated the project’s long-term conviction.
Analysts note that liquidations around $0.60 have been swept, but a denser band of liquidity is clustered around $0.734. This would be the immediate price target for any continued short-term rally.
Therefore, some analysis suggests ASTER traders can wait for a bearish reaction at $0.73-$0.74 before entering a trade. To the south, the local lows at $0.53 and $0.46 would be identified as downside targets.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.
