$ASTER This drop to around $0.7 has indeed shown some resistance to falling further in the short term.
Technically, the position at 0.6866 is the lower Bollinger Band support, and the MACD histogram is also starting to narrow, indicating a potential small rebound at any time.
However, I must say that this does not change the fact that its fundamentals are weak. An ecosystem with only a few hundred daily active users cannot support a market value of tens of billions. It simply does not make sense.
In the perpetual contract DEX sector, $HYPE has already become the absolute leader, with a monthly trading volume reaching hundreds of billions. ASTER has been a follower since its inception, lacking any real innovation.
Although they have introduced things like 1001x leverage and perpetual contracts for stocks as gimmicks, the number of real users on-chain is too small, and the liquidity depth is simply inadequate, leading to significant slippage in large trades. There have also been instances of large whales cutting losses, dumping 3 million coins, indicating that big funds are also retreating.
Even if there is a rebound, it is just an opportunity for you to exit. For this project to reverse, there must be a fundamental change, such as explosive growth in user numbers or the introduction of truly disruptive features.
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