Hello everyone, I invite you to review the ATOM chart in the USDT pair, taking into account the four-hour interval. First, we will mark the upward trend channel with the blue lines, where we could see the price breaking down, and the decline itself was close to the height of the previously defined channel. Currently, using the yellow lines, it is worth defining a triangle from which the price starts to exit with an upward movement.
Moving forward, we can move on to marking support areas in the event that the price turns again. And here the first support is at the price of $9.11, which effectively kept the price from further declines. However, if we see a break from the current support again, it may result in a drop to around $8.18.
Looking the other way, we see that the first important resistance is at the level of $10.18, and if the price positively crosses it, it may move towards the second resistance at the level of $11.11.
Please look at the RSI indicator, as there is still room for price increases, and if we look at the STOCH indicator, it should raise caution as we are moving at the upper end of the range, which may influence the willingness to react.
Moving forward, we can move on to marking support areas in the event that the price turns again. And here the first support is at the price of $9.11, which effectively kept the price from further declines. However, if we see a break from the current support again, it may result in a drop to around $8.18.
Looking the other way, we see that the first important resistance is at the level of $10.18, and if the price positively crosses it, it may move towards the second resistance at the level of $11.11.
Please look at the RSI indicator, as there is still room for price increases, and if we look at the STOCH indicator, it should raise caution as we are moving at the upper end of the range, which may influence the willingness to react.