ASTER's recent rally hit a speed bump with a 5% retracement, but the altcoin's engine is still humming. After a 10% surge that mirrored the broader market recovery, the pullback followed a breakout from a massive falling wedge pattern. This run was sparked by MYX Finance's bull run, which reignited interest in the sector, and further turbocharged by a Binance partnership announcement that sent the price jumping over 6% and trading volume soaring.
On-chain data from Nansen AI supports the bullish charge. Top PnL traders' wallets showed net inflows exceeding $70K in the past week, while fresh wallets accumulated over $685K. Despite some selling from public figures, their $24K capital couldn't shake the uptrend. Exchange outflows, a classic bullish sign, spiked above $3.1 million, indicating accumulation. The number of holders also grew steadily from 200K to 206.63K since early January, pushing the market cap to $1.94 billion.
The catalyst for the latest activity is the launch of perpetual futures on Binance Wallet, offering up to 100x leverage. This integration, which follows similar rollouts with Trust Wallet and SafePal, has sent trading volume up 45% to $378 million. Derivatives data shows futures volume jumped 46% to $816 million, with open interest rising 2.15% to $454 million, suggesting fresh capital is entering the market. To sweeten the deal, Aster and Binance Wallet are running a campaign with up to 200,000 USDT in rewards.
Technically, ASTER is now in a consolidation phase after rising from $0.69 to $0.79 before retreating. The $0.72-$0.73 zone is holding as key support, aligning with the lower Bollinger Band. While momentum has cooled—the RSI reset from overbought to neutral—the setup remains constructive. The Bollinger Bands are tightening, hinting at an impending volatility expansion. A clean break above the $0.76 resistance could target $0.78-$0.80, with some analysts eyeing a potential 120% rally that could push the token past the $1 milestone. However, losing the $0.72 support could open a path back to $0.70.
