**Key Takeaways**
**Why did Aster surge, then retrace?**
Aster surged 38% following CZ’s buy disclosure but retraced all these gains as Bitcoin dropped below the $108K local support.
**Does the recent 21% rally mean the bulls are back in control?**
Not fully. The swing high at $1.28 remains untested, indicating that bears still have the potential to force another sharp downward move.
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On November 2nd, Aster [ASTER] rallied 38% from $0.928 to $1.285. This impressive move was triggered by Changpeng Zhao (CZ), co-founder and former CEO of Binance, tweeting a “full disclosure” that he had bought Aster on that day.
However, a sell-off on November 3rd and 4th completely wiped out these gains. The token even made new lows, falling to a swing low of $0.818—below the $0.92 launchpad level that had initially boosted the token above $1 following CZ’s tweet.
At the time of writing, ASTER was trading around $1.06. Its move back above the $1 psychological level is encouraging, but questions remain: Is this the start of a sustained uptrend? Or is the current sentiment around Bitcoin [BTC] suggesting that this move is merely a bounce and liquidity hunt?
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### Aster Establishes a Bullish Structure
The move above the $0.92 supply zone occurred in the late hours of November 4th. This former supply zone has since been retested and now acts as a support level. Moreover, the bearish 1-hour structure flipped bullish when Aster breached the local swing high at $0.97.
At the time of writing, Aster appeared to be on the road to recovery. The Money Flow Index (MFI) was moving above 50, indicating bullish momentum and buying pressure behind the token. Additionally, the On-Balance Volume (OBV) chart showed higher lows and higher highs over the past 24 hours, signaling steady buying pressure.
However, resistance levels at the Fibonacci retracement points of $1.10 and $1.185 remain important barriers to watch. With Bitcoin still in a steady downtrend, Aster bulls need to be cautious of any moves that could erase recent gains.
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### What Does Smart Money Make of Aster?
On November 3rd, Lookonchain reported that a whale deposited $500,000 into Hyperliquid to take a 3x long position on ASTER, with a liquidation price of $0.7188.
More recently, a whale who profited significantly from the meme coin Pepe [PEPE] invested $4.21 million into ASTER. While some whales are taking bullish positions, others are leaning bearish.
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### The Road Ahead for Aster
For ASTER bulls, the $1.28 swing high is a critical level to reclaim and hold as support. Until this happens, long positions remain vulnerable to sharp bearish reversals, despite technical indicators suggesting short-term bullish momentum.
Traders should keep a close eye on Bitcoin’s price movement as it continues to heavily influence Aster’s trajectory.
https://bitcoinethereumnews.com/tech/inside-asters-3-day-price-swing-can-bulls-reclaim-1-28/