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ASTRUSDT

ASTR: Descending Channel Formation!!Hi guys, This is CryptoMojo, One of the most active trading view authors and fastest-growing communities. Do consider following me for the latest updates and Long /Short calls on almost every exchange. I post short mid and long-term trade setups too. Let’s get to the chart! I have tried my best to bring the best possible outcome in this chart, Do not consider it as financial advice. BUY ASTR/USDT Entry range:- $0.146 TO $0.162 Target: 30% SL:- $0.15 This chart is likely to help you in making better trade decisions if it did consider upvoting this chart. Would also love to know your charts and views in the comment section. Thank you
Long
by CRYPTOMOJO_TA
1
Analysis: ASTR at a decision point, keep an eye ASTR is currently in an uptrend. It may continue the rally up; however, the trend is at a decision point. Where will ASTR head? Let's look at the 4H chart and see what we have. The currently bullish factors: 1. Falling wedge formation, which is usually bullish 2. Tested Lower channel support 3. Price above EMA100 4. Possible early RSI breakout The currently bearish factors: 1. Consolidation from April 11-15 breakdown(box in the chart) 2. 0.382 Fib old support turned into resistance 3. RSI Divergence from the last 2 peaks So we have the bullish and bearish factors. The things that make ASTR on a decision point are: 1. Very tight consolidation between the 0.382 Fib and Lower channel 2. Wedge formation nearly completed 3. Decreasing volume over time Forecast If it successfully breaks out over the 0.382 Fib and the falling wedge, ASTR may reach 0.28, the first resistance, and may continue rallying into the upper channel. If it breaks the falling wedge and lower channel to the downside, the first support may be the EMA100 and the next supports are the 0.5 Fib and the previous low. Price and time will tell where this goes. Here are things to watch out for: 1. Breakout of the lower channel to the downside 2. Breakout of 0.386 Fib Thanks for reading this post, stay tuned for the next analysis! Also, if you are going to trade this analysis I suggest you DYOR first.
by Trader_ph