This market is getting interesting! Just today, there was a big commotion on-chain that pushed the ASTER coin to the forefront. What should players do? Let's discuss the latest hot news.
News: The whale 'cuts its own flesh', the signal is glaring!
A whale who hoarded 12.43 million ASTER coins transferred all of it to Binance in one go 9 hours ago, worth 11.67 million dollars!
This is not an ordinary operation. I carefully looked at the on-chain data, and this big player initially withdrew from the exchange at a cost of about 0.9705 dollars, and later deposited into the wallet at a cost of 0.8688 dollars. What is the current price of ASTER? The current price is only 0.806 dollars! What does this mean? It means if he really sells on Binance, he will incur a direct loss of 1.367 million dollars, equivalent to nearly 10 million yuan going down the drain.
The current price has fallen below the cost price of CZ's initial position at $0.913. Even the big players and major exchanges' holding costs have been breached, which indicates the level of panic in the market. The whale has chosen to 'fully transfer' to the exchange at this position, which usually indicates extreme bearishness and a readiness to dump and cut losses; this is a very clear bearish signal, suggesting that large holders' confidence may have collapsed.
Technical review: The 4-hour chart is lifeless, but hides secrets.
Let's take a look at the technical aspect, which is almost 'perfectly synchronized' with this news.
The trend is undoubtedly bearish: The MACD double lines have crossed below the zero axis, extending downwards, and the green bars are still expanding, which is a standard continuation signal of a downward trend, with bearish strength completely dominating.
Key pressures are heavy: It is clearly marked on the chart that the strong resistance level for a rebound is at 0.9400, and above that, 0.9780 is practically an 'impassable chasm'. The price is currently being pressed down hard by these resistance lines, making it difficult to even lift its head.
The only hope: Oversold and increased volume: However, there are also highlights in the chart. One is that the price has indeed dropped heavily, and technically there is a demand for a rebound due to being oversold; another is that there are signs of increased volume during the decline, indicating that large amounts of chips are being exchanged at this position. If you don't know how to time your entries, you can follow Bai Yue, who will provide real-time analysis in the village and give the current best entry points.
Operation suggestion: Be prepared with two hands, plan your trades.
Bearish strategy: If you have a high risk appetite and are good at short-term trading, you can pay attention to the performance of the price rebound in the resistance range of 0.900 - 0.940.
Bullish strategy: If you are more optimistic about the medium to long term, or want to bet on a rebound after an oversell, then absolutely do not go all in at once! You can adopt a 'pyramid' style of staggered limit orders, setting small position buy orders near key support levels like 0.800 and 0.780. Buy a little at each drop to average down the cost. If you don't know how to time your entries, you can follow Bai Yue, who will provide real-time analysis in the village and give the current best entry points.
Bai Yue's personal opinion.
My opinion might be a bit direct: In the short term, there is no doubt that bears dominate. The actions of the whales and the technical patterns resonate, indicating that there is a strong possibility of another drop to test lower support. For ASTER, the current price has already entered a 'high elasticity range', and volatility will be very large. Any positive news or market sentiment recovery could trigger a retaliatory rebound.
The market always has opportunities; the key is to operate calmly. Bai Yue will continue to help everyone monitor on-chain dynamics and move forward steadily together! Follow Bai Yue and participate in every attack of the Bai Yue villagers! Bai Yue will announce specific entry times and real-time news in the village every day!
