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Just looking at the charts this morning, we've got a nice key support level around 0.05865 that the price has bounced off several times. 💺 That shows us there's some solid demand coming in around that area.
And we just saw another sweet bounce off support, which now has the potential to take price up towards resistance around 0.0667 before possibly continuing higher. 🚀
Of course, it could come back down to retest support first - that's often how these things go. But the market structure overall is looking healthy to us. 👍
We particularly like how accurate those touchpoints are on support here - really backs up why it's an important level.
And this latest pullback was a textbook correction that stayed within bounds - no reason to think the upside is broken! 💪 Plus, we've got a Fib level lining up there for some extra confluence. Always nice to see!
So yeah, color us bullish! But we think ASTAR has some room to run here if that support continues to hold. You may consider getting long around the 0.059 area on another retest. And partial profits could come off around 0.067 resistance.
If this comes up the way we expect, we’ll be sure to keep you updated! 😎👍
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