ASTER DEX has been in a dire situation recently, with three consecutive days of negative trading volume. The price of ASTER tokens plummeted from $1.5 to $0.76, causing great anxiety, leaving people wondering just how low it can go! What will happen next?

Aster DEX has been online for nearly two months, focusing on research and development and dedicated to improving performance. Recently, the team made a significant move by announcing the launch of a new feature— the 'Shield Mode' specifically designed for perpetual traders.

On December 15th, Aster DEX officially launched this new trading model for those who enjoy high leverage, marking an important milestone in the project's development.

This new Shield mode is amazing, supporting up to 1001x leverage, and trades can be executed immediately without slippage, plus no Gas fees. All operations are on one interface, making it particularly smooth to operate, with a single click to long or short. Orders won't make it to the order book, so trading in Shield mode basically avoids slippage. In other words, this 'Shield Mode' is like an early version of Aster Chain's future privacy features.

However, even with this new mode, those who hold large positions in Aster are still losing heavily. A well-known Aster whale famous for 'buying high and selling low' made another mistake. He took 13.44 million tokens, held them for just 6 days, and sold them all for 11.67 million USD, but he spent 13.04 million USD when he bought in. After this sale, he lost 1.37 million USD on paper, bringing his total losses to over 35.8 million USD. That’s just too tragic!

From past experiences, as soon as we see these whales start to sell coins at a loss, it basically indicates that market confidence is failing. They often sense that prices will continue to drop. Moreover, this situation is not occasional; the entire market clearly shows that sellers are in control.

ASTER has seen negative trading volume for three consecutive days. In these three days, the selling volume was 150.82 million, while the buying volume was only 123.77 million, resulting in a difference of -27.05 million. This clearly illustrates the increasing selling pressure on the spot market. Generally, as selling pressure continues to rise, the extent of the drop will be greater, and weakening prices serve as an early warning signal.

So what will happen to ASTER next?

Since ASTER peaked at 1.5 USD a few weeks ago, it has been continuously falling, dropping to a low of 0.76 USD. As of now, the coin price is around 0.815 USD, having dropped 10.8% in one day, indicating strong bearish momentum.

Looking at the technical indicators, the relative strength index (RSI) of ASTER has dropped to 33, approaching the oversold territory, which also indicates that there is significant selling pressure in the market right now.

At the same time, the MACD has also clearly fallen below the zero axis, indicating that the downward momentum is still increasing, and the bears have no intention of stopping. Given these circumstances, this wave of decline is likely to continue.

Therefore, as long as the selling pressure does not decrease, ASTER is likely to drop to 0.76 USD. The key support level to watch below is 0.70 USD. Of course, if the decline can attract funds to come in for bottom fishing, the ASTER price could also rebound, so let's first see if it can rise to 0.95 USD.

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