5 Minutes
Aster price forms early reversal pattern as $70M buyback and Coinbase listing boost sentiment
Aster price appears to be entering a potential early reversal phase after a round of buybacks and a fresh Coinbase listing helped lift market sentiment during a tough week for crypto.
Key takeaways
- A rounded bottom is developing after Aster rebounded from the lower Bollinger Band.
- Stage 3 buybacks (~55.7M ASTER) and a Coinbase listing improved confidence among traders.
- Technical indicators show constructive momentum, but $1.50 is the near-term resistance test.
Aster traded at $1.25 at press time, down 4.2% over 24 hours but still maintaining a compact short-term structure that suggests an early reversal could be under way. Over the past week the token has oscillated in a $1.02–$1.39 band, gaining about 22% across seven days and 19% over the last month.
Market flows and derivatives
Trading activity jumped sharply, with 24-hour spot volume reaching approximately $953 million, a 27% rise. Derivatives show a more cautious posture: futures turnover climbed to roughly $2.4 billion (up 7%), while open interest fell by 6.6% to about $552 million. That divergence suggests traders may be rotating out of older leveraged positions rather than opening a large number of new directional bets.
ASTER buybacks and Coinbase listing lift sentiment
Much of the short-term optimism traces back to Nov. 20, when Aster announced the completion of its Stage 3 buyback and a new exchange listing.
At prevailing prices the recent tranche equates to roughly $70 million. The protocol plans to burn approximately 77.8 million ASTER (about 1% of total supply) on Dec. 5, while the remaining tokens will be locked for future airdrops. Stage 4 buybacks are slated to begin Dec. 10, and protocol fee allocations—estimated between 60% and 90%—are dedicated to ongoing purchases.
On the same day, Coinbase opened ASTER trading, bringing U.S. retail and institutional order flow into the market. Early activity pushed spot from near $1.14 to about $1.37 before prices settled back into their recent band. Coinbase recorded more than $1 million in trading volume within hours, a welcome shock absorber during a volatile stretch for digital assets. The listing also carries symbolic significance, connecting a BNB Chain project to one of Binance’s largest competitors.
Technical picture: rounded bottom and momentum signals
On the chart a rounded bottom pattern is developing after a brief probe to the lower Bollinger Band. The token leveled, started to curve upward and now sits around the mid-range — a configuration traders often read as sellers’ influence waning and buyers gradually returning.
The Relative Strength Index (RSI) staged a V-shaped recovery from oversold territory and is approaching neutral. Momentum oscillators show a modest bullish bias; both MACD and short-term momentum indicators have flashed buy signals. Short moving averages (10-, 20-, 30-period) lie below the current price, suggesting a solid base provided buyers defend the mid-range.
If overall market conditions remain stable, the near-term upside target zone lies between $1.38 and $1.50. A decisive breakout above $1.50 could open a path toward $2, driven by renewed retail and institutional participation.
Downside risks and key support
On the downside a drop below the $1.10–$1.15 support cluster would likely expose the lower $1.02 range and weaken the bullish setup. That move could prompt more selling and reintroduce bearish momentum. Traders should also monitor derivatives metrics like open interest and funding rates for signs of shifting risk appetite.
Aster hourly chart
Overall, Aster’s combination of token buybacks, a high-profile exchange listing and improving technicals creates a credible setup for a recovery attempt. However, broad crypto market volatility and derivatives behavior remain important variables that could alter the trajectory in the near term.
For traders and long-term investors, watch $1.38–$1.50 as the immediate upside gate and $1.10 as the critical support line. Continued buyback announcements and institutional listings would likely reinforce bullish momentum and bring greater liquidity to ASTER markets.
Source: crypto
Comments
coinpilot
Is this even real? $70M buyback and Coinbase listing sound big, but open interest down... are they just rotating liquidity, or a legit floor? smells like hype, curious tho
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