$AST Analysis: A Bearish Continuation or a Reversal Ahead?
The $AST pair has been trading in a downward trend, breaking below the critical support at $0.1200. The current price is hovering around $0.1188, reflecting a loss of momentum over the past few sessions. Despite the prevailing bearish sentiment, certain indicators suggest the potential for a rebound if market conditions align.
The 1-hour chart shows a clear formation of lower highs and lower lows, indicating a continuation of selling pressure. The price action has been constrained within a descending channel, with $0.1150 emerging as a critical support level. A break below this level could open the path for further declines, potentially toward $0.1100. However, if buyers step in at this level, we could see a short-term recovery.
For traders looking to capitalize on potential price movements, consider entering near the $0.1160–$0.1170 range if the price shows signs of stabilizing at support. Conservative targets could be set at $0.1230 and $0.1300, with a stop loss slightly below $0.1140 to manage risk. This strategy accounts for potential volatility while ensuring risk is minimized.
While the broader trend remains bearish, the RSI indicates that the market may be oversold, which could lead to a short-term bounce. Additionally, any increase in trading volume near the support zone would strengthen the case for a rebound. Traders should closely monitor market sentiment and wait for confirmation before committing to a position.