The Aster token was once again rejected at a crucial resistance level despite the project running the Stage 5 buyback program.
ASTER, the native token of the Aster ecosystem, a rapidly growing decentralized perpetual exchange (DEX), was once again rejected as it approached the 50-day moving average. On the four-hour chart, the token has been testing the 50-day moving average, which is considered a prominent resistance level. Once a coin crosses this level, it is considered to be bullish.
However, in ASTER’s case, the token was not able to break through the 50-day MA despite testing it for the fifth time. Within the last 2 months, the bulls tried to push past this level, but they were not strong enough.
What is more concerning is the fact that despite ASTER running a buyback program, the prices could not cross this threshold. The Aster Stage 5 buyback program represents the fifth phase of the exchange’s ongoing token repurchase strategy, but with a crucial enhancement.
According to the official announcement made via X, ASTER was said to use up to 80% of its daily trading fees specifically for buying back ASTER tokens from the open market. This strategic approach shows reducing circulating supply while simultaneously demonstrating confidence in the platform’s native asset.
Unlike traditional stock buybacks, token repurchases on decentralized exchanges are executed through transparent, blockchain-verified mechanisms. Each transaction is recorded on-chain, offering verifiable proof of how capital is deployed and reinforcing accountability to the community. Despite the buyback, the token is still bearish.
The chart below shows ASTER straying out of a bullish ascending triangle pattern. However, a retracement back into the triangle is not out of the cards, as the token sits at a crucial support level. A slip from here will give zero chance of the token rebounding into the bullish ascending triangle pattern. However, if ASTER manages to hold above this support level at $0.688, there could be some hope for the token getting back into the triangle pattern.
