🎯SETUP SHORT ORDER – $ASTER
Entry Zone: $0.713 - $0.732
Stop Loss: $0.749
Take Profit Targets:
∙ TP1: $0.660
∙ TP2: $0.620
∙ TP3: $0.585
Reason for Price Decrease
ASTER is clearly in a downtrend on the 1-hour chart after a strong drop from the peak of $2.4363 to the current zone of $0.6903. The price structure shows a series of lower highs and lower lows without any clear reversal signals as the price continues to be rejected at resistance zones.
Trading volume has weakened with the 5-day average at 277 million lower than the 10-day average at 388 million, indicating that buying pressure is waning. The price is deeply below all moving averages with the 7-day average at $0.7027 and the 25-day average at $0.8881 creating a strong resistance zone above.
This short setup has a high probability because ASTER has lost 66.80% in the past 90 days and is in a long-term downtrend with no reversal signals. The buy-sell ratio is 48.92% to 51.08%, indicating that selling pressure still dominates, and any recovery to the $0.69-$0.70 zone is a good short opportunity with the next target being a retest of the low of $0.5528 or even lower if no strong buying momentum appears.