Does anyone understand! The crypto circle has another big scoop, even big players like CZ couldn't escape the fate of 'getting stuck after chasing high prices'! This plunge of ASTER has directly trapped the big players in a floating loss of 20%, leaving small investors confused: is this a liquidation scheme set by institutions, or a golden opportunity for bargain hunting? Today, I will lay bare the truth behind this plunge and provide you with my exclusive operational advice, helping newcomers avoid 3 years of detours!
First, let me educate my family who are unaware of the truth: I'm not exaggerating, this drop of ASTER can be described as a 'precise strike'. Reliable sources in the circle indicate that CZ's cost for acquiring ASTER was stuck at $0.913, and in just a few days, the price plummeted directly to $0.7136, resulting in a floating loss of over 20%. It's important to note that when big players act, they generally come with research and financial backing; being caught in this situation inevitably makes the market panic, leading many small investors to follow suit and cut losses, fearing they might fall into a deeper pit.
But don't panic! We can't just look at the surface when trading; we need to delve into the core data, that's where the real insights are. I have organized the key market capitalization data for ASTER: the current circulating market value is $7.558 billion, total market value is $7.627 billion, and the key point is that the circulation rate is only 25.22%! What does this circulation rate mean? It means that most of the chips haven't been released yet, and the market is a typical 'small but beautiful'. It ranks 64th globally in terms of market value, not at the top, but not a junk currency either. The biggest characteristic of such assets is: high volatility, but once it starts, the rebound force will be very strong.
Looking at the technical side, this is the core basis for my judgment on the market outlook, listen carefully! From the K-line pattern, ASTER has repeatedly tested the support level of $0.71 several times. Although each rebound is weak like not having eaten, at least it hasn't fallen below! It's like fighting a war and holding the front position; as long as the position is there, there is a possibility of counterattack. However, risks need to be raised: the RSI indicator doesn't look good, with all three lines showing a weakening trend, and the 24-hour RSI value is 45.54. This value is not considered oversold (oversold is below 30), indicating that the current market sentiment is relatively pessimistic, and downwards pressure remains. Whether the $0.71 support level can hold is key in the coming days.
Next is my exclusive opinion, no ambiguity, straight to the conclusion: short-term fluctuations are unavoidable! But I personally lean towards the possibility of 'repair after fluctuation'. Why? First, the circulating supply is small; as long as there is a small amount of capital entering the market, it can drive up the price of the coin; second, the support level has not been broken, indicating that there is capital picking up at this price level, it is not a bottomless decline. But there are two prerequisites: one is that $0.71 must hold, and the second is that trading volume must moderately increase; the current average daily trading volume is only $9.67 million, and the volume is too weak to support a significant rebound.
Here comes the specific operational advice, take good notes! If $0.71 holds, and trading volume gradually increases, then there is a high probability of a rebound to the $0.72 resistance zone; if it can break through the key point of $0.724 with volume, then it is very likely to challenge the historical fluctuation range of $0.8. At that time, you can enter with a small position. Conversely, if the $0.71 support level is broken, especially with increased volume, then don't hesitate, just run away! This situation will likely trigger the 'gradual decline mode', and trying to catch the bottom will only lead to deeper entrapment.
Lastly, let me tell you something real: don't rush to be the 'picking-up knight'! Even CZ is trapped, why should we small investors join the excitement? There are no living immortals in the crypto world, only old foxes who haven't been trapped. The core of this operation is to 'wait' for the result of the support level game, wait for the volume signal, and wait for the trend to become clear. It's better to miss 10 opportunities than to step into one pit!
By the way, many family members privately messaged me: how to judge the effectiveness of the support level? Which small coins have 10 times the potential? Just follow me!
