The ASTER market faces critical pressure following the unexpected capitulation of its most loyal investors. Recent data from analytics firm Nansen reveals that ASTER whales have drastically reduced their exposure to the asset, selling millions of tokens in the last 24 hours amidst price weakness.
According to detailed analysis of blockchain movements, these large holders disposed of a total of 2.97 million tokens in a single day. This action represents a 4.05% reduction in their total accumulated holdings, leaving whale balances at 70.39 million units. at current market prices, this massive liquidation translates into spot selling pressure exceeding 2 million dollars, which has pushed the asset’s value down nearly 10% in the last day.
On the other hand, what is worrying is not just the volume of the sale, but the drastic change in the behavior of these investors. Historically, these wallets had taken advantage of previous dips to accumulate more assets, but their decision to sell during current weakness suggests that confidence in a near-term rebound is fading rapidly. Likewise, derivatives data confirms this bearish trend, as the top 100 traders reduced their exposure by 34.42%, maintaining net short positions betting on further drops.
Can Technical Support Withstand the Flight of Smart Capital?
The Smart Money Index adds another layer of pessimism to the token’s current technical outlook. This indicator crossed below its signal line around November 22, marking a clear shift from an accumulation phase to a distribution one. Since that technical crossover, the price has maintained a steady downward trend, and informed investors have not re-entered the market, indicating that the current selling pressure is deliberate and not the product of momentary emotional panic.
Regarding price structure, ASTER remains trading inside a falling wedge, dangerously pressing against its lower trendline. If this support fails in the coming sessions, the next downside target sits near $0.66, which would imply an additional 10% drop from current levels. Conversely, to invalidate this negative outlook, the price would need to urgently reclaim the $0.96 level on a daily close to restore market confidence and stop the bleeding.
Finally, the immediate scenario looks complicated as long as institutional investors and smart money continue to progressively withdraw from the asset. The lack of buying support at these critical levels suggests the correction could deepen even further, opening the door to downside risks toward $0.55 if the trend does not reverse soon. The cryptocurrency is at a decisive crossroads where defending current supports will be vital to avoid further deterioration in its valuation this week.
