- ASTER whale opens a $4.3 million leveraged long position, signaling strong rebound expectations.
- The whale stakes $2.4 million for four years, showing longer-term confidence.
- Bearish indicators remain active, with ASTER risking a decline toward $0.58.
Aster — ASTER, is holding near $0.60 despite weaker market activity and limited capital inflows. However, one whale has taken a different view. The investor opened a leveraged position worth $4.33 million. The same whale also committed $2.42 million to four-year staking. Those moves suggest strong confidence despite ASTER’s current weakness. Yet bearish indicators remain active across the chart. Traders now face a clear question. Can whale conviction help ASTER defend support and trigger a broader recovery?
Whale Makes Two Major Bets on ASTER
According to Lookonchain, a whale opened a 4x long position. The position covered 7.2 million ASTER tokens worth roughly $4.33 million. The trade had already lost around $322,000 when reported. ASTER had barely moved during the same period. Still, the leveraged position showed that the whale expected stronger prices ahead. Other derivatives traders also appear increasingly bullish. Coinalyze data showed a Long/Short Ratio around 1.77. Long positions accounted for roughly 63% of the market.
Such positioning suggests many traders expect a potential rebound. However, heavy long exposure can also increase liquidation risks. A sudden decline could force traders to close positions quickly. The whale also made another major commitment through staking. The investor locked 4.02 million ASTER for four years. The stake carried a value of roughly $2.42 million. That decision suggests confidence beyond a short-term trading opportunity.
Long-term staking also allows the whale to pursue yield during market weakness. ASTER staking had slowed during August before this move. Total staked value declined from roughly $283 million to $276 million. The drop represented more than $7 million in reduced staking. The whale’s new commitment could therefore signal renewed interest from larger investors. Such a move may also reduce the amount of ASTER available for immediate selling.
Bearish Signals Still Threaten the $0.60 Support
Despite whale activity, ASTER still faces significant technical pressure. The Stochastic Momentum Index has continued falling after a bearish crossover. The indicator also remains below the neutral zone. The Chance Momentum Indicator has delivered a similar warning. Both indicators suggest sellers still control the short-term trend. That weakness places the $0.60 level under close scrutiny.
A sustained break below support could expose ASTER to further losses. The next potential downside target sits near $0.58. Buyers must defend the current zone before a stronger recovery can develop. For now, the whale’s $6.75 million commitment offers an encouraging signal. However, large positions cannot guarantee a price reversal. ASTER needs stronger market demand and improved momentum for confirmation.
