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Assembleprotocol

$ASM targets upside $.052-.058 and potentially higher?$ASM looks to be forming a bottoming structure. I created this blue trendline as I think this will be the resistance that needs to break in order for the upside targets of $.08 and $.13 to be in play. That said, I think in the near term there are two possible scenarios that I'm looking at, ASM: 1. Pumps straight to the $.052-.058 range 2. Retests the $.03 region, forms a lower high and then consolidates more in the low $.02 area before finally breaking out to $.05. I've marked off key resistances to watch for price action to move to and key places where ASM should find support should it see more downside. I've also added key dates that should be pivots for price action. Let's see how it plays out over the coming weeks/months.
COINBASE:ASMUSDLong
by benjihyam
3
$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