$ASTER /USDT SHORT TRADE SIGNAL
TECHNICAL ANALYSIS
The ASTER/USDT pair on the 1-hour chart shows a pronounced bearish trend. The current price of $1.059 is trading significantly below all three key moving averages.
* MA(7): 1.074
* MA(25): 1.096
* MA(99): 1.123
The price action confirms a downtrend, characterized by lower highs and lower lows, especially after a sharp drop on October 27th. The MA(7) is acting as immediate dynamic resistance, and the price is struggling to break above it. The chart suggests continued selling pressure, making a short trade setup favorable at current resistance levels.
Trade Setup: Short Entry
* Entry: A Short entry is recommended either at the current price or on a retest of the immediate resistance area (MA(7) at \approx \$1.074).
* Entry Price: $\approx $1.065 - $1.075 (A slight bounce towards MA(7) resistance)
* TP 1 (Target Price): $1.039 (Targeting the recent 24h low)
* TP 2 (Target Price): $1.000 (A key psychological support level)
* SL (Stop Loss): $1.100 (Just above the MA(25) to invalidate the bearish structure)
Short Outlook of Market
The broader cryptocurrency market currently maintains a neutral to cautiously optimistic sentiment, with institutional investment continuing to rise. However, the altcoin market remains highly volatile and subject to sudden, sharp drawdowns. While Bitcoin and Ethereum have demonstrated some stability, individual altcoins like ASTER are under distinct selling pressure following a prolonged price decline, with traders showing caution around supply and liquidity. This indicates that ASTER may continue to underperform the major coins in the short term.
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