Market Overview for Aster/Tether (ASTERUSDT) – 24-Hour Summary

• Aster/Tether (ASTERUSDT) fell 0.19% over the past 24 hours, opening at 1.1 and closing at 1.081.
• Volatility spiked midday with a high of 1.2, followed by a sharp decline to 1.062, indicating choppy and bearish momentum.
• Volume reached a peak of 6.3 million at 19:00 ET as price dropped from 1.148 to 1.119 within 15 minutes.
• RSI and MACD signaled overbought conditions midday before confirming the bearish reversal.
• Bollinger Bands widened during the peak volatility, and price closed near the lower band, suggesting exhaustion.

Aster/Tether (ASTERUSDT) opened at 1.1 at 12:00 ET–1 and reached an intraday high of 1.2 before closing at 1.081 by 12:00 ET. Total volume across the 24-hour period was 72.8 million, with a notional turnover (open interest × price) of $78.3 million. Price action was characterized by sharp swings, particularly after 17:00 ET, when a bearish divergence formed between price and volume.

Structure & Formations

The 15-minute chart showed a strong bearish reversal pattern at 19:30 ET, where a large red candle engulfed the previous green one, signaling a potential top. The high of 1.2 acted as a short-term resistance, which was later confirmed as a peak. A key support level appears to have formed around 1.08–1.09 as the price found a floor twice in the late hours of the session.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed below 1.14 during the peak bearish phase, confirming a shift in momentum. While the 50-period SMA remains above 1.11, the 20-period has dipped below 1.10, suggesting short-term bearish pressure. On the daily chart, the 50-period and 200-period SMAs are converging toward a potential golden cross, hinting at a longer-term bottoming process.

MACD & RSI

The MACD turned negative after 17:00 ET, with a bearish crossover between the MACD line and signal line. RSI reached overbought territory above 65 before declining sharply, reinforcing the bearish reversal. The RSI is currently in neutral to slightly oversold territory, below 45, suggesting that ASTER may have some support at current levels. However, without a strong rally in volume, the bearish bias could continue.

Bollinger Bands

Bollinger Bands expanded significantly during the 17:00–19:30 ET period, confirming the increased volatility. Price closed near the lower band at 1.081, suggesting a possible near-term bottom. The narrowing of bands in the final hour indicates a potential consolidation phase, which may lead to a breakout or reversal if volume increases.

Volume & Turnover

Volume spiked at 19:30 ET with a candle volume of 2.8 million as the price dropped from 1.148 to 1.119 in 15 minutes. However, turnover did not increase proportionally during this move, suggesting potential selling pressure without strong conviction. The final 15-minute candle at 12:00 ET showed relatively low volume, indicating a pause in active trading.

Fibonacci Retracements

Fibonacci retracement levels from the 1.08–1.2 swing show that the current price of 1.081 is near the 38.2% retracement level, acting as a potential support zone. The 61.8% retracement lies at 1.063, which may offer stronger support if the bearish trend continues.

Backtest Hypothesis

For the backtest, we aim to identify the effectiveness of the Bearish-Engulfing pattern in predicting ASTERUSDT price reversals. Given the recent volatility and pattern formation on October 28, a valid signal would need to align with high volume and a strong move below the prior candle’s low. If the built-in pattern scanner is unavailable, an alternative data source or a manually curated list of prior Bearish-Engulfing events could be used for backtesting. This will help confirm if the pattern holds predictive value in ASTER’s price behavior and refine the strategy for future trading decisions.