It looks like $ASTER has made a clear move to grab liquidity below the recent swing low and is now showing signs of reversal. This is a critical juncture.
The Bullish Scenario:
For the move higher to materialize, we must hold the ≈1.90 range on the 1-hour timeframe. This area (highlighted in the chart) is acting as critical support following the liquidity sweep.
Target 1: If ≈1.90 holds, we look for a push up to the first resistance zone at ≈2.16 (which represents a 12.73% move from current levels).
Target 2: A break and hold above the first target opens the door for a continuation to the upper resistance/supply zone around ≈2.45 (which is near the swing high and a ≈26.36% move).
The Bearish Scenario:
If we lose and close below the ≈1.90 support range on the 1H, it would invalidate the immediate bullish reversal structure. In this case, we would expect a continuation of the downtrend to test the major structural support zone around ≈1.55.
Trade with discipline and patience. Always manage your risk.
The Bullish Scenario:
For the move higher to materialize, we must hold the ≈1.90 range on the 1-hour timeframe. This area (highlighted in the chart) is acting as critical support following the liquidity sweep.
Target 1: If ≈1.90 holds, we look for a push up to the first resistance zone at ≈2.16 (which represents a 12.73% move from current levels).
Target 2: A break and hold above the first target opens the door for a continuation to the upper resistance/supply zone around ≈2.45 (which is near the swing high and a ≈26.36% move).
The Bearish Scenario:
If we lose and close below the ≈1.90 support range on the 1H, it would invalidate the immediate bullish reversal structure. In this case, we would expect a continuation of the downtrend to test the major structural support zone around ≈1.55.
Trade with discipline and patience. Always manage your risk.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.