Aster trades below $0.65 key level as whale holdings decline and shorts edge out longs

Aster [ASTER] was down 1.75% over the past 24 hours as of 8th June 2026, trading at $0.632 below the $0.65 breakdown level, with participation fading alongside the price. The token's 24-hour trading volume fell more than 22% to $99.97 million, according to data cited in market analysis.

The daily chart showed that ASTER recently broke down from a parallel channel and closed below the $0.65 support level, a structure that opened the door for further downside. The token recovered more than 8% over the past two days but failed to reclaim $0.65, leaving the bearish chart setup intact. Based on current price action, ASTER could decline toward its next support at $0.467 if it remains below $0.65, representing a further drop of roughly 25%, while a move back above $0.65 would invalidate that setup. ASTER also traded below its 200-day Exponential Moving Average (EMA), and the Average Directional Index (ADX) stood at 19.37, below the 25 threshold and indicating limited trend strength despite recent volatility.

On-chain data pointed to selling from large holders. According to Nansen, the Top 100 Addresses recorded a negative balance change, with holdings falling by 269,099 ASTER, a decline that indicated some of the network's largest holders were trimming positions during the ongoing downtrend.

Derivative positioning reflected a similar bias. According to CoinGlass, ASTER's Long/Short Ratio fell to 0.9646, indicating that short positions slightly outweighed long positions. The largest liquidation clusters sat at $0.613 and $0.648, with traders building $1.01 million in long positions near $0.613 and $1.27 million in short positions near $0.648. Taken together, the on-chain and derivatives data left traders watching whether ASTER can reclaim $0.65 or extend its decline toward lower support levels.