AzizKhanZamani

ATOMUSDT Local OB| .618 Fibonacci| Price Action| Trend

Long
BINANCE:ATOMUSDT   Cosmos / TetherUS
Evening Traders,

Today’s analysis – ATOMUSDT- rejection of from an order block, allowing for a move down,

Points to consider,
- Price Action Corrective
- Local OB Resistance
- Local OB Support
- .618 Fibonacci Support
- Low Volume

ATOMUSDT’s immediate price action is rejecting of from a Local OB Resistance, trading towards the support level that has technical confluence with the .618 Fiboancci and OB, allowing for a bullish bias.

The current volume is below average, an influx is highly imminent of the next expansion.

Holding the support region is critical for a bullish market structure, failure to hold will be indicative of weakness.

Overall, in my opinion, ATMUSDT is a valid long with defined risk, price action is to be used upon discretion/ management.

Hope this analysis helps,

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