My $ASTER long has gone nowhere in 3 weeks, CLOSING now.ASTER / TetherUSBINANCE:ASTERUSDTColdBloodedCharterI've been sitting in this ASTER long for three weeks now, opened at $0.622, and it's time to make a decision. So here's my view. On the daily chart, as far as crypto goes, this still looks very much like an accumulation phase, close to the bottom, and in my opinion it's one of the more interesting tickers out there. Especially considering the price has barely reacted to everything happening in the background - the escalation around the Strait of Hormuz, weakness in BTC, and weakness in HYPE, its biggest competitor in the decentralized exchange sector. The RSI profile is dominated by bullish signals, with both regular and hidden bullish divergences. If it wasn't for oil moving higher, I'd probably just sit patiently in the position. However, the risk of a broader market flush has increased significantly since June 25. Bitcoin looks increasingly likely to head below $60k, and a break below $57k could trigger an absolute bloodbath across altcoins. ASTER itself has broken below the uptrend line that had been in place since February on the daily chart. However, there has been virtually no bearish follow-through, which is the key point for me because it suggests the path of least resistance is still to the upside - the only question is when. Probably not before some form of de-escalation in Iran. A recovery back above the trendline and a breakout above the green 200 MA ($0.67) would likely trigger a fast move higher. I'll be watching that very closely. Below $0.575, things could get ugly very quickly. So I'm closing the position for a tiny profit, or basically break-even once carrying costs are included. This simply isn't the environment for long positions in high-risk assets. Quite the opposite. 👽💙