Don't keep staring at the minor fluctuations of a few cents on the K-line chart! Just this morning, Binance's former big boss CZ personally stepped in and publicly confirmed that he is increasing his position in ASTER, with over $2 million invested! This is not just a rumor; it's an official response!
What does this indicate? It shows that the trend is still there, but let's not rush in without thinking! CZ is not playing short-term speculation; he is genuinely optimistic about this coin in the long run. He has bought more than just $2 million, and even after tweeting, he continued to buy. The signal this sends to the market is: at this price level, I still think it's the bottom and a good entry point.
CZ is a prominent figure in the cryptocurrency circle, and every move he makes can make headlines in the crypto world. His continuous buying of ASTER is the best advertisement, definitely attracting a large wave of attention, and many people will follow him to buy, creating a fear of missing out. Now, this news is not just creating an atmosphere for the market but is directly igniting the fire!
Based on the one-hour chart, I want to clarify my point: today the market is likely to move like this; first, it will surge due to news stimuli, then it will retrace to confirm from a technical perspective, and finally, the bulls will push up again.
Technical analysis:
The overall trend is moving upward without any issues. The MACD has formed a golden cross below the 0 axis and is moving upward, indicating that the rebound has started. However, we are approaching the overbought zone, just like a car climbing a steep slope; after stepping on the gas hard, you need to ease off a bit, or the engine might overheat.
Can ASTER reach 0.955 or even 0.978? The answer: Yes!
With CZ's news stimuli, market sentiment is high, and in the morning, it directly surged to test, breaking through 0.955 is possible. However, when encountering the previous high point pressure at 0.978 for the first time, it is highly likely to face strong selling pressure.
Could it drop to 0.91 or 0.89? It's possible, but the situation is different!
If suddenly there is bad news leading to a direct crash, it might drop to 0.89. But given the current positive situation, it is more likely to have a normal retracement after a surge. For example, if it surges to 0.96 and then weakens, it may retreat to the 0.92 - 0.91 range to find support, washing out those with weak conviction, and then gather strength to surge up again.
So, when you see a retracement, don't panic; make sure to clarify whether it is a trend reversal downward or a shift during an upward process.
So how should retail investors operate?
If you have already bought, hold on tight and don't panic, set a trailing stop loss to let your profits continue to grow.
If you haven't bought yet, don't chase the high! Wait for a retracement to around 0.91 - 0.92 to buy in batches, don't hold too heavy a position, and leave some funds for later use.
Remember this: just because a big player buys does not mean it will surge immediately, but it at least indicates that this coin has potential. Patience is more important than anything!
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