ATOM could be a great time to buy back in on it's way to $10

As you can see on this 4 hour chart ATOM is currently at the bottom of most of the EMA's and MA's I have on the chart. It just tested the 4hr MA200 and the EMA 233 and made a nice bounce off these indicators.

The lime green trendline is what ATOM needs to break through and close above to see a reversal in trend since it's ATH @ $10.


On this weekly chart below you can see the bullish divergence in the RSI and LMACD as well as ATOM making higher lows and higher highs on the chart itself. You can also see that the EMA's and MA's are all starting to lineup as a 'ribbon' and when this happens on a weekly chart in crypto the coin goes parabolic. ATOM is also above the Ichimoku Cloud on this weekly chart.

On this 1hour chart below you can see ATOM is trying to break through all the EMA's and MA's on it's way back up. If the EMA 8 or EMA 10 can cross above the MA 21 ATOM may have a chance it is reversing the trend. We would need the LMACD to get above 0 to confirm ATOM has the bullish momentum to break all the resistance it faces on this 1 hour chart.

So, if ATOM can move above resistance on the 1 hour chart as mentioned we will then monitor the 4 hour chart to see if ATOM can close above the MA 144 (brown moving average line that ATOM is testing now at $7.31). If this occurs ATOM should get at least to the lime green trendline before the next decision is made. If it rejects on the 1 hourly we could see a retest of the yellow horizontal line @ $6.29

Happy trading legends!
HTBB

Comment:

I am a hodl'er of this coin.