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$ASTER recently recorded a new all-time high ($ATH) of $2.43, but the rally was short-lived.
Within the last eight hours, the altcoin has dropped by 10%, sliding toward the $2.00 mark. The shift in investors’ stance and growing market weakness raises the risk of further losses.
Aster Is Losing Support
The Chaikin Money Flow (CMF) indicator highlights a decline in $ASTER’s momentum. Currently slipping below the zero line, the CMF suggests outflows are beginning to dominate inflows. This change signals that selling pressure is outweighing buying activity, a bearish sign for the token’s near-term outlook.
Negative netflows highlight a point of saturation among investors who had been strongly bullish on $ASTER during its climb to record highs. As enthusiasm cools, profit-taking is accelerating, leaving the altcoin vulnerable to deeper corrections.
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$ASTER CMF">
From a macro perspective, the Squeeze Momentum Indicator reveals a bearish trend building beneath the surface. The indicator shows that momentum has shifted into negative territory. As the squeeze develops, a potential release could drive heightened volatility that would weigh further on the altcoin’s performance.
If bearish momentum dominates when the squeeze breaks, $ASTER could see accelerated losses. Volatility explosions often favor the prevailing trend, and with indicators flashing red, the bias appears skewed toward the downside. This setup leaves $ASTER exposed to sharp corrections in the short term.
$ASTER Squeeze Momentum Indicator">
$ASTER Price May Face A Drop
$ASTER is trading at $2.07 at the time of writing, with its latest decline confirming the pressure it faces. The $2.24 level has now become strong resistance, blocking any immediate attempts at recovery.
The next critical support for $ASTER lies at $1.87, and considering the prevailing momentum, the token is likely to test this level. A further drop could trigger panic selling, amplifying the decline as traders rush to secure gains or cut losses.
$ASTER Price Analysis. ">
However, if broader market cues turn favorable and $ASTER reclaims $2.24 as support, the bearish outlook could be invalidated. This recovery would bring the token closer to its $ATH of $2.43, offering bulls a chance to retest higher levels.
The post $ASTER Price Falls 10% in 8 Hours As Outflows Begin Their Domination appeared first on BeInCrypto.