Artem Voloskovets
ASTS has been on a remarkable journey since reversing course in mid-2024. The stock's ability to maintain an uptrend despite market volatility has caught the attention of technical traders, and now all eyes are on whether it can break through a key resistance level or face a pullback.
ASTS Holds Strong After 2024 Reversal
AST SpaceMobile continues to maintain a broader upward trend on the monthly chart following its turnaround in May 2024. The move has shown persistent trend continuation, with pullbacks consistently appearing during the advance rather than breaking the overall structure. The chart reveals price consolidation after a strong rally, suggesting the trend remains intact rather than reversing direction.
The technical structure shows a clear sequence of higher highs and higher lows formed since the trend changed last year. While volatility has remained elevated throughout the move, dips have consistently occurred within the trend channel rather than invalidating it. This pattern mirrors behavior seen in other trending stocks, where consolidation phases follow significant rallies toward major resistance zones.
Key Levels: $120 Resistance and $70 Support Define Next Move
Market attention has now shifted to crucial confirmation levels that will determine the stock's next direction. Bulls need a clean break above $120 to regain upward momentum and potentially target higher levels. On the flip side, bears are watching for a move below $70 as a signal of deeper weakness that could trigger a more significant correction.
The current positioning around the $120 resistance zone is particularly important. Similar technical setups have appeared in recent months, where ASTS stock consolidated near the $100 mark before attempting to push higher. The question now is whether buyers have enough strength to push through this key barrier or if sellers will defend it successfully.
What's Next for AST SpaceMobile?
The development highlights how trending stocks can maintain their direction despite experiencing sharp fluctuations along the way. The market's reaction around these major resistance and support zones will ultimately determine whether the existing uptrend resumes its climb or transitions into a broader consolidation phase.
For traders and investors, the coming sessions will be critical in revealing whether ASTS can build on its 2024 reversal or needs more time to digest recent gains before making another attempt at higher levels.
Artem Voloskovets
