Aster surges above $2 again as Binance confirms spot listing, reversing losses from DEX manipulation concerns | Credit: Hameem Sarwar
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Key Takeaways
ASTER’s price rebounds above $2 after the Binance listing news.
FUD over DEX volume manipulation fades post-announcement.
The bullish setup on the chart points to a breakout to $2.44.
Aster’s (ASTER) rebound couldn’t have come at a better time. The altcoin has surged back above $2 after Binance announced it will list ASTER for spot trading.
The news comes one day after the project faced intense Fear, Uncertainty, and Doubt (FUD) over alleged manipulation of its decentralized exchange (DEX) trading volumes.
That controversy triggered a sell-off, briefly dragging ASTER’s price down before stabilizing. However, the Binance listing appears to have erased much of that negative sentiment.
So, what’s next for ASTER’s price?
Aster Bounces Back
On Sunday, Oct. 5, ASTER’s price briefly climbed to $2, hinting at a potential run toward a new all-time high. However, the momentum quickly faded as the token slid to $1.82 later.
The sudden reversal came after DeFiLlama, a leading on-chain analytics platform, removed Aster’s trading volume data amid suspicions of manipulation.
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According to 0xngmi, one of DeFiLlama’s core builders, the team is investigating irregularities in Aster’s perpetual DEX volume.
He noted that Aster’s reported volume was nearly identical to Binance’s perpetual trading volume, an unusual similarity that raised red flags.
Adding to the controversy, CCN reported how on-chain sleuth investZachXBT also weighed in, alleging that Aster’s trading activity may be tied to wash trading.
Binance Listing to Lift Market Mood
Despite that, Binance confirmed that it will list the altcoin. This development drove ASTER’s price higher from the swing low.
On the 4-hour chart, ASTER’s price trades inside an ascending triangle. The structure suggests that buyers are tightening control and preparing for a possible breakout.
A closer look reveals that the Chaikin Money Flow (CMF) has risen to 0.12, indicating steady capital inflows.
If this divergence continues, ASTER’s price could gain more traction as short-term skeptics are forced to chase the rally, potentially driving the value higher.
ASTER Price Prediction: ATH Ready
On the 2-hour chart, ASTER’s price has successfully broken out of a falling channel. The Awesome Oscillator (AO) remains in negative territory, but the appearance of green histogram bars suggests that bearish momentum is weakening and buyers are beginning to regain control.
If this recovery continues, ASTER could soon breach the $2.17 resistance level, paving the way toward a new all-time high near $2.44 this “Uptober.”
However, a rise in selling pressure could quickly flip sentiment.
If that happens, ASTER might fail to hold its current support zone, potentially sliding back toward $1.67, which bulls would need to defend to prevent deeper losses.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
