A repurchase of 2.85 million ASTER tokens has done little to shift the token's price, which remains stuck below $0.62. The market structure is still bearish, and traders are now watching a local demand zone at $0.590 as the next potential support.
The Buyback That Didn't Move the Needle
The buyback, which removed 2.85 million ASTER tokens from circulation, was expected to provide some upward pressure. But the price response has been muted. ASTER continues to trade in a tight range, unable to break through the $0.62 resistance level that has held for days.
Buybacks are often seen as a signal of confidence, but in this case, the market isn't buying it. The token's price action suggests that sellers remain in control, and the repurchase hasn't been enough to flip the sentiment.
Why $0.62 Is a Hard Ceiling
The $0.62 level has acted as a ceiling for ASTER, with each attempt to push higher met with fresh selling. The bearish market structure — lower highs and lower lows on the daily chart — keeps the price trapped below this mark. Until that structure changes, any rally is likely to be capped.
For now, the token is hovering just above $0.60, a psychological level that has also drawn attention. But the real test is whether buyers can defend the demand zone at $0.590.
The $0.590 Demand Zone
The local demand zone at $0.590 could be the line in the sand for ASTER in the coming days. This area has historically attracted buying interest, and a hold here might give the token a chance to build a base. If the price breaks below it, the next support could be significantly lower.
Traders are watching this level closely. A bounce from $0.590 would suggest that the buyback, combined with organic demand, is starting to have an effect. A breakdown, on the other hand, would confirm that the bearish trend is still in charge.
The coming sessions will show whether the demand zone holds or gives way. The buyback has been absorbed, and now the market has to decide if it's enough.
