The price of the Astar (ASTR) token is showing remarkable upside potential, driven mainly by a strong accumulation phase from its largest investors. According to recent data from the on-chain analysis platform Nansen, “mega whales” have significantly increased their holdings, suggesting strong confidence in the asset’s future in the short and medium term. This strategic move could pave the way for a new test of its all-time high value.
The hard data reveals a clear and compelling trend. Over the last 24 hours, the top 100 ASTR wallets acquired 134 million ASTR tokens, representing a 1.76% increase in their balances. This maneuver contrasts sharply with the strategy of other market segments. For instance, investors classified as “smart money” have decreased their exposure by 70%, while other smaller whales have sold 7.5 million ASTR. This divergent behavior suggests that the largest players see a unique opportunity that others do not yet perceive.
Furthermore, although ASTR balances on exchanges have grown, this increase seems more related to liquidity replenishment following its recent listing on Binance than to actual selling pressure. The token’s economy is strengthened by the interest of large capital, which is betting on an imminent valuation increase. This strategic accumulation is often a prelude to significant price movements, as it reduces the available supply on the market.
What Do the Market’s Technical Indicators Say?
Technical analysis supports the bullish outlook observed on the blockchain. Currently, ASTR’s price is trading within an ascending triangle formation, a pattern that statistically favors the buyers. For this structure to be confirmed, the asset needs to close a 12-hour candle above the key resistance level of $2.27. Such a move would open the door to a pursuit of the all-time high of $2.43.
Indicators like the Money Flow Index (MFI) are on an upward trend, indicating that capital continues to flow into ASTR. Likewise, the Bull-Bear Power (BBP) indicator has turned positive, confirming that buyers have taken control of the market. If the buying momentum is maintained and surpasses the mentioned resistances, the most likely scenario is the continuation of the uptrend. Conversely, a close below the $1.77 support would invalidate this thesis.
The current situation of the ASTR token presents a fascinating picture for investors. The strong conviction of the mega whales, combined with positive technical signals, sets up a favorable scenario for a bullish impulse. The market will be watching for a break of the immediate resistance levels, an event that could act as the definitive catalyst for ASTR to not only reach but exceed its previous all-time high in the coming weeks.
