Aster's Coinbase Launch: Will It Spark a Rally?

Aster is set to start trading on Coinbase on November 20, creating excitement in the market. Strong bullish trends, rising funding rates, and a notable increase in spot demand suggest that Aster might be on the brink of a breakout. This article explores the key factors influencing Aster's upcoming Coinbase debut.

Key Takeaways

Aster shows bullish momentum with increasing funding rates, short liquidations, and strong technical support around $1.23.
The upcoming listing on Coinbase may enhance spot demand and could lead to a breakout if bullish sentiment continues.
Aster [ASTER] will begin spot trading on Coinbase on November 20, following a month of trading on major platforms like OKX.
Coinbase announced that the ASTER-USD trading pair will go live no sooner than 9 AM PT, depending on liquidity conditions.
This listing provides Aster with exposure to a wider audience of U.S. traders, and market activity is already picking up prior to the launch.

Aster Eyes Fresh Momentum as Coinbase Prepares to Launch ASTER Spot Trading

Bullish Sentiment Surrounds Aster's Coinbase Listing

Recent analyses from AMBCrypto, using Coinalyze data, indicate that Aster's trading sentiment has been intensifying in the last 24 hours. As of now, the funding rate shows a daily increase of 0.015%. This slight rise points to an increasing preference for long positions, as traders get ready for potential market changes when trading opens.

Aster Funding rates Source: Coinalyze

In addition, Aster has seen over 15K in net short liquidations, suggesting that rising prices are eliminating bearish positions from the market. This shift toward bullish trading could mirror previous market trends and might propel Aster's prices even higher, especially in light of the climbing funding rates.

Aster Liquidations Source: Coinalyze

Technical Indicators Support Bullish Outlook

Examining the daily chart, Aster’s price is currently testing a pivotal demand zone around $1.23, following a brief correction from its all-time high. This area coincides with an ascending trendline, reinforcing the bullish outlook. Additionally, the price remains above the 20-day Exponential Moving Average, suggesting potential for higher volatility, particularly with the upcoming U.S. market activity, which might help Aster reach new all-time highs.

Aster price analysis Source: TradingView

Future Prospects for Aster

The timing of the Coinbase listing could enhance Aster’s current market performance. New liquidity from U.S. retail and institutional investors may elevate spot demand, especially in the early moments following the listing.

Furthermore, as short positions rise, with liquidations and increasing funding rates, new buyers entering the market could contribute to bullish momentum. This series of events may cause additional short sellers to exit their positions.

If Aster experiences the usual "listing liquidity wave" typical of other tokens announced on Coinbase, it could trigger a significant breakout, particularly if derivative traders continue to establish long positions.