Rising volume and Open Interest supports ASTEROID's potential breakout beyond $0.00036.
Asteroid Shiba’s rally is beginning to feel a lot more deliberate than impulsive. The token has now extended its bullish run for a third straight day, adding another 19% over the past 24 hours alone.
At the same time, trading volume surged 72% to 21.63 million, showing that the move is being backed by growing participation instead of thin momentum. That matters because sharp price jumps without volume rarely last. Here, volume is expanding even faster than price, which usually points to traders actively chasing the move rather than simply reacting to short-term volatility.
More importantly, the breakout didn’t come out of nowhere—it followed a visible technical rebound that has gradually pulled momentum back in favor of buyers. The rally began after the price respected a demand zone around $0.00024, where buyers stepped in decisively. Instead of a slow grind higher, the response was immediate, pushing the token toward its next key test at $0.00036. That level now acts as the first real barrier for continuation.
Beyond Spot activity, derivatives data is also starting to lean in favor of the bulls. Open Interest has increased by $0.8 million over the past 24 hours, suggesting that new positions are being added as prices rise. When Open Interest expands alongside price, it typically reflects growing confidence in the current direction. It doesn’t guarantee continuation, but it does make the rally more structurally supported.
Another layer to the setup comes from the Funding Rate, which was still slightly negative at -0.0005% at press time. Thus, the market is not overcrowded with long positions yet. In fact, it implies that some traders are still positioned against the move. This kind of imbalance can work in favor of the trend.
If price continues higher, those short positions may start to unwind, adding additional buying pressure and helping extend the rally. For now, all attention shifts to the $0.00036 resistance, given thatIf buyers manage to push through and hold above this level, it would confirm strength and likely open the door for further bullish run continuation. The combination of rising volume, increasing Open Interest and a still-balanced Funding Rate gives that scenario a reasonable foundation.
However, if momentum fades at resistance, a short-term pullback wouldn’t be surprising. After such a sharp move, the market may need to consolidate before attempting another breakout. ASTEROID is no longer just reacting, but it is testing whether it can transition into a sustained bullish run. The demand zone has already proven its importance.
Now, the question is whether buyers can carry that strength through resistance. For the moment, the setup leans bullish. But like most breakouts, it will ultimately come down to follow-through. Rising Open Interest and negative Funding Rates suggest that the rally may still have room to extend.
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