$ASR Massive Short Liquidation at $2.058 — Is a Breakout Brewing?
The bears just took a serious hit. A short liquidation of $1,316 occurred at $2.058, signaling a possible reversal in trend. When this kind of forced exit happens, it often marks the beginning of upward momentum. Let’s break down what’s brewing with $ASR and where the opportunity lies.
Technical Analysis:
Current Price Zone: Hovering around the $2.00 - $2.10 range
Key Zone to Watch (Buy Zone): $1.90 - $2.05
This is where demand is building and previous resistance is flipping to support. The liquidation confirms strength in this zone.
Immediate Target Levels:
Target 1: $2.34 (minor resistance)
Target 2: $2.58 (major resistance and psychological round level)
Target 3: $2.92 (extension based on previous breakout pattern)
Stop Loss:
Conservative: $1.86 (below structure support)
Aggressive: $1.95 (tight, for quick momentum trades)
Why This Setup Stands Out:
Short liquidations are like fuel thrown into the fire during an uptrend. The forced exits of short sellers often lead to momentum spikes as price surges to higher resistance levels. Combine that with the technical setup showing a strong base at $2.00 and you’ve got the potential for a breakout continuation.
Patience and precision matter. Watch for consolidation near $2.05 to confirm strength before entry. This isn’t just another candle move — it’s a spark for a potential rally.
