ASTER's Price Plunges Below Range Amid Whale Selling Pressure

ASTER has been experiencing significant price volatility in recent days. The altcoin broke below its established range of $0.66-$0.70 and dropped to a low of $0.63. This move was largely driven by whales, who moved 5 million ASTER tokens worth $3.25 million out of their wallets.

The transfer of these large amounts of tokens has added pressure to the market, as sellers have been cashing in gains while others exit at a loss. The Bulls v Bears indicator remained in the negative zone for four consecutive days, signaling strong bearish dominance. The Relative Strength Index (RSI) also extended its decline, falling to 36 and nearing the oversold zone.

This bearish momentum has led to increased selling pressure from retail traders as well. Data from Binance shows that Sell Volume exceeded Buy Volume by over $60 million over the past month. Additionally, capital continued flowing out of the network, with protocol outflows peaking at $78 million.