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$ASM further downside before relief bounceIn my last analysis, I showed the path for how we could get to $.20, however, I've since changed my view that we'll go higher from here and am expecting lower prices before we get up there. I had initially thought that BTC would bounce higher from here, thus thinking that $ASM would bounce with it, however, now my base case is that BTC will fall from here, and thus alts should see a bit more pain before bouncing. I think there's a pretty strong chance that $ASM won't bottom until $.049-.053 the two support levels in Orange on the chart. I did put the worst case scenario support on there as a possibility in red (if BTC were to fall to the extreme targets, but I'm not sure I see us getting there yet). I put it there because it is a possibility though so stay cautious. From there I'd expect price to form some sort of bottoming pattern and eventually moving out of this bearish channel before we have the possibility of higher prices. The good news is that after those support levels are hit, then I think we should see a bounce higher and ultimately get up to the $.20-.32 resistances.
COINBASE:ASMUSDShort
by benjihyam
2
ASMNot a Financial advisor. ASM was recently listed on Coinbase Pro yesterday 10/21/21 Saw a run up to .144 and has pulled back quite a bit. .11 is strong resistance for ASM, if we can get above that and maintain that area for support we can look to start up trend to .131 After that I believe we will retrace and back test support again. Then potentially look to uptrend to .17 area. New coin, dyor please. I'm looking to just trade this for the time being & potentially revisit. high risk.
COINBASE:ASMUSD
by StofAxeCapital
2