The Aster decentralized exchange (DEX) platform works with its native token ASTER. The platform operates as a multi-chain DEX that specializes in perpetual and spot trading. The important metrics include the current developing price at close to $0.587 and aggregated open interest at $196.5 million.
Technical Structure: Analyzing the S/R levels
The 12-hour chart shows ASTER in a prolonged downtrend since October 2025. The asset has experienced a drop of ~61% from the highs around $1.50 in October 2025. The asset price went through a sharp correction in November, accompanied by a consolidation range in the $0.50–$0.70 range. At the time of writing, the recent price structure for the asset indicates a potential reversal, with the current trading price of $0.587 after a 9.86% gain in the past 24 hours. Key horizontal levels include resistance at $1.379 (red line) and a mid-term resistance at $0.67 (white line). The immediate support level stands at $0.56 (yellow line). The price is currently testing the area above the lower support, suggesting short-term bullish momentum if the current momentum continues.
Breaking above the $0.67 zone with a sustainable volume could confirm a trend reversal toward $1.00, while a drop under $0.56 might lead to further downside risks and could trigger the price to fall close to $0.40. Volume appears moderate, with no extreme spikes, indicating steady but not overheated interest.
Open Interest Jumps 17.16%, Signaling Fresh Positioning
According to the data from CoinAnalyze, the open interest (OI) in ASTER perpetual contracts has experienced significant growth, followed by a 17.16% increase over the past 24 hours to reach $196.5 million. This growth in OI coincides with the recent price recovery, which suggests that the fresh capital has started to enter the market instead of simple short covering. Historically, OI fluctuated around $188 million in October 2025, briefly reached its peak, then dipped lower before stabilizing. The latest surge marks a noticeable shift from just a consolidation phase to renewed participation, often an early signal of directional conviction forming among traders.
The asset at present accounts for 0.40% of total market OI, with most of the activity entirely concentrated in perpetual contracts. Liquidity is primarily centered toward major exchanges, led by Binance ($95M), followed by Bybit ($51M) and Hyperliquid ($37M). Smaller allocations on OKX, Huobi, Kraken, dYdX, WOO X, and BitMEX make up the remainder. This concentration on top-tier exchanges increases execution efficiency but also raises the risk of amplified volatility during high-impact events such as liquidations or token unlocks.
Market Sentiment and Key Catalysts
The market sentiment regarding the asset continues to imply a mixed outlook. This leading DEX protocol’s appeal originates from its design, which comprises privacy-oriented trading, leveraging the use of Aster Chain and multi-chain support, including BNB Chain, Ethereum, Solana, and Arbitrum. These features set ASTER as infrastructure instead of just a speculative asset.
However, near-term uncertainty remains. About $46.07 million in ASTER tokens, or 3.05% of the market cap (78.48 million ASTER, 0.98% of total supply), are set to unlock on February 17. The data from Dropstab also gives an idea about the selling pressure, but ASTER’s “Trade & Earn” program could cool down that selling pressure, as it lets users stake tokens for rewards and fee discounts.
Additional ecosystem developments, such as compensation for FLAP token holders through an Aster quantitative trading bot, point to deeper integrations that could support user growth. While ASTER has shown extreme volatility in the past, including a ~1,900% surge shortly after launch in 2025, the current OI expansion alongside price stabilization suggests a more structurally driven move.
Price Outlook and Risk Levels
From a technical perspective, immediate upside targets sit near $0.675, followed by $0.80 if momentum and OI continue to build. In a stronger bullish scenario, a reclaim at the $0.8 level could materialize over the coming weeks, supported by sustained derivatives participation.
The project faces challenges due to its defensive price action, which is showing weakness after losing essential support. The asset price faces a risk of falling back to $0.40 if the digital asset selling pressures increase after the February unlock period. The long-term value of ASTER is totally dependent on growth through its governance functions and buyback control, which will likely deflate its market supply if DeFi usage on the platform continues to grow. It becomes essential for the market participants to track both volume patterns and open interest changes because these two factors will show whether the current market movement has solid backing or will likely change direction.
