Since December of last year, the ASTER price has been trading at a significant level that has acted as macro support, with the price stalling multiple times. Whenever the price attempts to break above $0.80, sellers step in and push it back down.
To date, the price has not managed a strong close above this level, indicating that buyers are not yet in control of the market.
Looking at the chart, the ASTER price action has formed what appears to be an inverse head and shoulders pattern. This is typically seen as a bullish reversal pattern, suggesting a potential upward move after a downtrend. However, ASTER needed to break the $0.80 mark, and was rejected once again.
This failure is significant. When a bullish pattern fails to materialize, it often leads to the opposite move. In this case, the rejection increases the bearish outlook and the probability of a downward move. 
Following the rejection, the ASTER price has fallen back to the lower bound of its recent consolidation range. This area has previously acted as support multiple times, helping the price bounce. Now, it is being tested again, and this time with weaker momentum.
If this support holds, ASTER could stabilize and attempt another upward push. However, if the support breaks, there will be less structure below, potentially accelerating the decline. The next major support is expected around $0.60, which could become a target in case of a breakdown.
Trapped traders could trigger a sell-off in ASTER.
Another key factor to watch is trader positioning. Many traders may have entered positions expecting a breakout above $0.80, and with the price now below that level, their positions are underwater, creating pressure on the market.
If the support breaks, these traders may rush to exit their positions to avoid further losses. This wave of selling could accelerate the decline, creating what is often referred to as a cascading effect.
This is how rapid and sharp declines begin.
What's next for ASTER?
Currently, ASTER is at a critical juncture. If buyers can step in and push the price back above the range, there is still a chance for another test of $0.80.
On the other hand, if the support breaks, the downside could open up rapidly. In that scenario, a move towards $0.60 is not only possible but could happen sooner than expected.