ASTS: Ascending Wedge Formation, Bearish Breakout Highly Likely!AST SpaceMobile, Inc. Class ABATS:ASTSVincePrinceHello Community, welcome to my updated analysis of ASTS from a weekly timeframe perspective. Since my previous analysis of ASTS, the price broke below the lower boundary of the formation and increased bearish pressure. This formed the bearish breakout confirmation, from where ASTS is already trading below the 20-EMA and the 50-EMA. Now, I spotted the underlying dynamics which will be important to watch out for in the upcoming times. When looking at my chart, we can see how ASTS has now completed this gigantic ascending wedge formation. This is an excellent bearish formation guiding the bearish path towards the downside. The price is now trending decisively below the 20-EMA and 50-EMA. ASTS is building the next bearish setup with further bearish waves to emerge in the upcoming times. It will lead to a bearish breakdown and visiting of the lower levels. The lower ascending wedge target zone, as marked in my chart, is likely to be reached sooner rather than later when the bearish momentum increases explicitly. If the momentum should hold on and accelerate massively, ASTS is also likely to reach much lower levels from there on. Otherwise, if it should bounce within the target area, this will lead to a reversal if the price should stabilize. In any case, the bearish consideration should not be underestimated. In this manner, thank you a lot for watching! The support is highly appreciated. VP