Key Insights:
- Aster is targeting $1.65–$1.55 support for a potential move toward $3.
- Rapid growth and rising volume signal Aster’s rise, but decentralization concerns linger.
- Aster challenges major DEXs like Hyperliquid, while CZ’s involvement raises questions.
Aster (ASTER) is gaining attention in the crypto market as analysts and traders focus on a key support zone between $1.65 and $1.55. Many view this price area as a potential bounce zone before the token aims for the $3 mark. With rising trading volumes and a sharp increase in user activity, the project is drawing both strong interest and skepticism.
Analysts from Bitcoinsensus have pointed out the $1.65–$1.55 range as a confluence area. This includes the Point of Control (POC) and a previous resistance level that has now turned into support. The price traded at $2.11 at press time, up over 15% in the last 24 hours.
Technical traders believe this zone could offer a rebound opportunity. Kamran Asghar, a crypto analyst, posted on X:
“This is the strategy for $ASTER: Manipulation (current phase), Accumulation, Distribution ($3+).”
Many traders are watching closely for a confirmed hold of the support to validate the bullish path.
Growth in Volume and Market Activity
Aster’s trading volume has shown fast growth. After recording $1.9 billion five days post-launch, it recently reached $36 billion in daily trading. The platform has introduced gamified trading, attracting a large number of users. Traders earn points through activity, which are expected to be used in a future airdrop.
The token started at $0.090 and quickly peaked at $2.30, reflecting a rise of over 2,400%. Its market cap also jumped to $3.7 billion within days. The platform’s open interest has reached $1.25 billion, while total value locked (TVL) has doubled to over $2 billion.
Centralization Concerns and CZ Connection
Despite the growth, some analysts have raised questions. On-chain data shows that 96% of ASTER tokens are held by only six wallets.
“This looks like the 2018 fee-mining season. It never ends well for retail,” warned @hansolar21 on X.
There is also concern over the project’s ties to former Binance CEO Changpeng Zhao. His fund, YZi Labs, is backing Aster. While some see this as strong support, others question the project’s decentralization. One analyst wrote,
“Flow is not conviction, these are incentives.”
The token’s rise challenges established DEXs like Hyperliquid. While Aster leads in volume, Hyperliquid has just set a record of $102.4 million revenue per employee with only 11 contributors.
As the market watches the $1.65 to $1.55 support range, traders prepare for what could be the next major move toward $3, depending on whether this level holds or breaks.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Source: https://coincu.com/analysis/aster-targets-1-65-to-1-55-support-zone/