Key Insights
How is Aster positioned ahead of its Coinbase debut?
Aster is currently displaying strong bullish momentum, supported by increasing funding rates, limited short liquidations, and technical backing around $1.23.
What could be the impact of the Coinbase listing on ASTER’s price movement?
The listing has the potential to stimulate spot demand and trigger a breakout if the positive sentiment and long positions persist.
Aster [ASTER] is set to commence spot trading on Coinbase on November 20th, following a month of activity on major exchanges like OKX.
As per Coinbase’s recent announcement, the ASTER-USD trading pair will be live at or after 9 AM PT, subject to meeting liquidity standards.
This listing opens up a wider audience of U.S. traders for Aster, and market activity is already on the rise ahead of the official launch.
Coinbase listing coincides with bullish derivatives for the token
Based on AMBCrypto’s assessment of Coinalyze data, Aster’s trading sentiment has been intensifying over the past 24 hours.
Currently, the token’s Funding Rate data indicates a daily increase of 0.015%. This slight uptick signifies a growing preference for long positions as traders position themselves for potential volatility post-launch.
Source: Coinalyze
Simultaneously, Aster’s net short liquidations have surpassed 15K as rising prices force bearish traders out. The increasing bull dominance could mirror past occurrences and drive token prices higher, especially with the rising funding rates.
Source: Coinalyze
Technical Analysis aligns with bullish on-chain indicators
On the daily chart, Aster prices are testing a crucial demand area around $1.23 following a minor correction from its peak.
The demand zone coincides with an upward trendline support, further confirming the bullish outlook.
Furthermore, the token price remains above the 20-day Exponential Moving Average currently. Coupled with the expected increased volatility from the U.S. market, Aster could be poised for a rally towards a new all-time high.
Source: TradingView
What’s on the horizon for Aster?
The timing of the Coinbase listing could amplify ASTER’s current market strength. Fresh liquidity from U.S. retail and institutional players could boost spot demand, especially in the initial hours post-listing.
Additionally, with the token’s surging short positions, liquidations, and climbing Funding Rates, a influx of new buyers might add to the bullish pressure. This sequence of events could potentially trigger more forced exits for bears.
If ASTER experiences the typical “listing liquidity wave” observed with previous Coinbase listings, the token might attempt a breakout, particularly if derivative traders continue to accumulate long positions.
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