Aster Price Plummets 20% in a Week Amid Market Downturn and Flash Crash Impact
Aster's price has fallen more than 20% in the past 7 days amid a broad market downturn and trader panic. On the 4-hour chart, Aster broke two key support levels and could drop to $0.60 if it fails to recapture $0.82. The Relative Strength Index (RSI) is at extreme levels on lower timeframes, suggesting a mild recovery toward $0.82 before potential further downside. Overall market sentiment has been at record-low levels, adding bearish pressure on ASTER.
The Oct 10 flash crash significantly impacted the market, triggering approximately $16 billion in liquidations within hours. Following this event, Aster's Total Value Locked (TVL) declined from about $2.5 billion to approximately $1.3 billion. Despite the price drop, Aster's 24-hour trading-volume market share remains about 20%, currently higher than Hyperliquid by this metric.
Aster's CEO has announced plans for the project to launch its native blockchain, the Aster Chain, signaling ongoing development efforts despite recent market challenges.
