Hypothesis
BTC is pumping, and the rest of the market needs and will most likely be looking to play catch up.This sell-off occurred shortly after at the start of April for the likes of ETH and SOL.
BTC has blown out of this resistance, and ETH and SOL are yet to break this resistance formed by that sell-off.
My point is I think there's some big upside about to occur across the alt market.
With all that above, we have ASTR sitting comfortably on a diagonal and horizontal support correlation with some nice intraday demand shown around the price point.
As the market has deviated from the level already, reclaimed, and shown promise, we can capitalize on the bullish fallout from the market and ride this little 20% move and potentially beyond the level of interest of $0.1625.
Another thing to note is this price point has a 61.8% Fibonacci, which has been previously respected here as well. This play has one scenario and one scenario only.
Obviously, if the price were to break down, we would see deeper levels from a trader's viewpoint, but because of the specific setup, this is what we are looking at.
Scenario 1: Buy from $0.1625
Play for traders
Really, the trade is getting in at the market now with stops around 0.15150, as this is where this particular setup would become invalid at 0.15150Spot players get in at the LOI.
You decide the approach.
Play for investors
DCA in as usual and pay more attention to the LOIs. We will unlikely see any further pullbacks, but if we do, the levels to get interested for more accumulation are below.LOIs (Levels of Interest)
- 0.1625
- 0.142
Cryptonary's take
These are exciting times; the market is looking very hot, and it appears like the bulls are fully in control.We are simply playing the momentum here, and ASTR has performed outstandingly.
With this build-up of price in this range and the pullback to the key level alignment alongside the 61.8% Fib, we have a strong setup here.
Recommended from Cryptonary
