Does ATOM Have Enough Strength for a Breakout? Analyst Makes His Case

Does ATOM Have Enough Strength for a Breakout? Analyst Makes His Case
фото показано с : beincrypto.com

2019-12-1 06:16

ATOM has been increasing since September 8. Until now, it has almost tripled in value, having increased by 180%.

The increase was gradual until November 1st when the rate of increase intensified. However, ATOM has probably reached a resistance area and a period of retracement is likely.

Cryptocurrency trader @cryptorangutang suggested that the ATOM chart is one of the best looking charts in the cryptocurrency industry at the moment, and will soon break out.

One of the better-looking alt charts, showing actual strength and not a boring flat bottom that might scam pump. $ATOM is close to breaking out. pic.twitter.com/A3Kse90XVD

— #DYORangutang (@cryptorangutang) November 29, 2019

Will the price do so? And if yes, how high will it increase? Continue reading below if you are interested in finding out.

Ascending Support

The ATOM price has been following an ascending support line since reaching a low of 18,000 satoshis on September 5.

The price moved above the 40,000 satoshi resistance area without much trouble and afterward validated it as support. The flip of the previous resistance as support is considered a bullish movement. The price is currently inside the second resistance area at 52,000 satoshis.

However, the chart has begun to show weakness.

First, volume has been constantly decreasing and is almost non-existent on the latest upward move.

Second, both the RSI and the MACD have begun to develop significant bearish divergence. This suggests that the price might not be successful in breaking out. Rather, it could decrease to the ascending support line before possibly making another attempt at breaking out above resistance.

ATOM Future Movement

The immediate upside for ATOM seems limited since there are strong resistance areas at 65,000 and 80,000 satoshis.

It would be healthier if we had a decrease to the support line or even a breakdown to the 100-day moving average before the price continued its upward movement.

To conclude, the ATOM price is close to breaking out above a significant resistance area. However, due to the weakness shown by several technical indicators, we believe a retracement is likely before the price makes another attempt at moving higher.

Disclaimer: This article is not trading advice and should not be construed as such. Always consult a trained financial professional before investing in cryptocurrencies, as the market is particularly volatile.

Images courtesy of Shutterstock, TradingView, Twitter.

The post Does ATOM Have Enough Strength for a Breakout? Analyst Makes His Case appeared first on BeInCrypto.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Atomic Coin (ATOMIC) на Currencies.ru

$ 0.0008254 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0.0008254 - H: $0.0008254
Капитализация $15.315k Rank 99999
Доступно / Всего 18.555m ATOMIC / 252m ATOMIC

increase until atom 180 value increased having

Источник: beincrypto.com

increase until → Результатов: 47


NeuralTrade Network ICO

Most people are desperately seeking financial freedom in their life. Sadly financial freedom remains a dream to them or an elusive theory that forever escapes them. The biggest problem around financial freedom is some magic formula or some secret success model that they believe exists, they spend an endless amount of time, effort and even resources in obtaining this magic formula or the secret success model.

2019-2-15 22:51


No, buying drugs via apps isn’t safer

Markets for illicit drugs are constantly evolving to increase profits and reduce risks to suppliers in response to law enforcement tactics. New technologies have been taken up with enthusiasm: from the use of pagers and mobile phones in the 1990s, to the more recent growth of online pharmacies and drug cryptomarkets, which host large numbers of illicit drug vendors operating in the hidden portion of the internet known as the “dark net”.

2019-1-24 15:25


A CBC Casper Tutorial

In order to help more people understand “the other Casper” (Vlad Zamfir’s CBC Casper), and specifically the instantiation that works best for blockchain protocols, I thought that I would write an explainer on it myself, from a less abstract and more “close to concrete usage” point of view.

2018-12-6 04:03


Фото:

Bitwise Files With SEC for Cryptocurrency ETF

Bitwise Asset Management is the latest venture to apply for a cryptocurrency exchange-traded fund (ETF). Called the Bitwise HOLD 10 Cryptocurrency Index Fund, the ETF will track the returns of the company’s HOLD 10 Index, a “market-cap-weighted index of the 10 largest cryptocurrencies” that captures roughly 80 percent of the total cryptocurrency market capitalization.

2018-7-25 02:18


STARKs, Part I: Proofs with Polynomials

Special thanks to Eli Ben-Sasson for ongoing help, explanations and review, coming up with some of the examples used in this post, and most crucially of all inventing a lot of this stuff; thanks to Hsiao-wei Wang for reviewing Hopefully many people by now have heard of ZK-SNARKs, the general-purpose succinct zero knowledge proof technology that can be used for all sorts of usecases ranging from verifiable computation to privacy-preserving cryptocurrency.

2018-7-21 23:03


Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru