After experiencing a wave of 'big ups and downs' in the cryptocurrency market over the weekend, the market shows clear differentiation at the beginning of this week: some coins experienced a sharp drop and washout, while others rebounded strongly with the help of institutional funds. #加密市场反弹
For cryptocurrency investors, this is both an opportunity and a reminder—market volatility has never been lacking. Today we focus on three major hotspots: #AsterDEX ASTER, #xrp and Dogecoin (#DOGE ), to see what kind of drama the market is unfolding. #山寨季來了？
ASTER plummeted 50%, support initially stabilizes
Recently, the price of ASTER plummeted over 50% from a high of $2.30, hitting a low of $1.10, and subsequently stabilized around $1.15. The main triggers for this drop are concentrated in several aspects:
1️⃣ DeFiLlama delisting: Aster was removed from DeFiLlama, trading volume data has been suspended, raising market doubts about its liquidity and real trading volume. 2️⃣ Large token transfer: Over 6.1 million ASTER (about $12 million) was transferred to Binance, and the trades related to Galaxy Digital were interpreted by the market as a potential sell signal, exacerbating the selling pressure. 3️⃣ Airdrop delay: The second phase airdrop originally planned for October 14 has been postponed to October 20, causing market concerns due to uncertainty in distribution data.
4️⃣ Macroeconomic headwinds: The escalation of tariff tensions between China and the U.S. has triggered global risk-averse sentiment, further putting pressure on risk assets, including ASTER.
The technical analysis shows that ASTER once formed a typical double top pattern, and the neckline support at $1.50 was broken, triggering a sharp drop. In the short term, if ASTER can break above $1.50 and close above $1.60, it may welcome a short-term rebound, targeting $1.75 to $2.00. Otherwise, if it falls below $1.10, it may again test lows of $1.00 or even $0.70.
In summary, the market is still observing whether the bulls can truly take the lead, which mainly depends on the strength of the next wave of capital inflows.
XRP makes a strong comeback, with institutional funds increasing.
In stark contrast to ASTER's sell-off is the rebound momentum of XRP. After a significant pullback last week, XRP quickly rose from $2.37 to $2.58, with a market cap returning to about $30 billion. The entry of institutional investors is a key driving force behind the rebound; they selectively increased their positions after market liquidation over the weekend, providing support for the price.
Analysts point out that if XRP stabilizes at the $2.57 support and further closes above $3.12, it will confirm strong weekly performance; conversely, if it falls below $2.50, it may retreat to $2.42. The current price remains within an upward channel, with short-term observation points on whether the $2.57 support can hold and whether the $2.70-$2.75 range can be touched. 📈
DOGE trading volume surges, and market sentiment warms up.
On the other hand, DOGE is also attracting attention. In the past 24 hours, DOGE's price has surged by about 11%, approaching the $0.22 mark. Unlike previous increases that mainly relied on community enthusiasm, this round of increase is backed by institutional funds entering the market, with trading volume reaching about four times the daily average, indicating an upgrade in market attention towards memecoins.
The technical analysis shows that $0.19 has become a solid support level, with a short-term target pointing to $0.24-$0.25. If the supply pressure in the $0.22 area is broken, it may lead to a continuous rebound this week; conversely, falling below $0.20 may face short-term pullback risks. The game between institutions and individual buyers has resulted in the DOGE market displaying a coexistence of 'heat + rationality'. 🐶
The market rhythm is diverging; how should investors seize the opportunity? 🧐
Overall, the current cryptocurrency market shows a clear pattern of differentiation:
High-risk small coins like ASTER, under dual pressure from technical and news aspects, will see increased volatility in the short term, suitable for observation or low buy strategies.
Core assets like XRP and DOGE are steadily rising under the push of institutional funds, with short-term rebound opportunities. Investors should focus on key support levels and trading volume confirmation.
The market changes rapidly—there are both 'plummeting by 50%' and 'daily rising by 10%'. For investors, grasping the rhythm is more important than blindly chasing after rises and falls: focusing on support levels, trading volume, and macro news is essential to maintain calmness and sharpness amidst volatility.
This week, the cryptocurrency market is like a 'water splashing festival': ASTER has plummeted, while XRP and DOGE are thriving. Whether in the short term or the long term, do not miss the opportunity for market purification. 📊💎
Like, share, follow me, and I will help you capture more market trends, accompanying you to watch the ups and downs of bulls and bears!
The market is active now, with new star sectors and coins waiting to explode! Seizing the trend to buy at the bottom is a huge opportunity for the next bull market. We are not here just to earn a salary; we're here to make money! Zhou Zhou shares real-time swing and long-term strategies, allowing you to stand on the shoulders of giants and quickly cross wealth tiers. Missing one wave may mean missing out on hundredfold returns! Join us!
