Analysis according to the chart #ATOM /USDT
1. Forecast of price movements (short term, medium term)
Short-term forecast: In the coming weeks, the downward trend may continue with short-term pullbacks upward, given the current support levels.
Medium-term forecast: Price recovery is possible within a few months if the price remains above the current support level.
2. Support and resistance levels
Support: $5.00, $4.20 (key support area).
Resistance: $7.00, $8.50, $10.00.
3. Possible entry, exit, stop loss points for a long position
Entry points: $5.50 (if reversal is confirmed), $6.00 (if there is a breakout up).
Exit points: $7.00, $8.50.
Stop Loss: $4.80.
4. Possible entry, exit, stop loss points for short positions
Entry points: $6.50 (if a downward rollback is confirmed).
Exit points: $5.50, $4.50.
Stop Loss: $7.20.
5. Consideration of long and short scenarios with probability assessment
Long scenario:
Probability: 55%
Rationale: The price is in the support zone, the RSI indicator shows potential oversold conditions, which may indicate a possible upward reversal.
Short scenario:
Probability: 45%
Rationale: General downward trend, resistance at $6.50 and $7.00, which may lead to continued price decline.
Indicators and additional data
Volume: Trading volume shows an increase at the current support level, which may signal increased interest.
Ichimoku Cloud: The price is below the cloud, indicating a bearish trend.
Parabolic SAR: The indicator points are above the price, which confirms the downward trend.
EMA: Short-term EMA (50, 100) crosses long-term EMA (200) from top to bottom, confirming the downward trend.
YK Round Levels: The $5.00 and $6.00 levels are significant psychological levels.
RSI: The RSI indicator is in the oversold zone, which may indicate a possible reversal.
Liquidation HeatMap: Shows that there are a large number of liquidations of long positions at the $5.00 and $4.20 levels, which may increase support.
Fundamental Data
Exchange reserve: Decrease over the last 7 days.
Net deposits on exchanges: Decline over the last 7 days.
Capital inflow: Capital outflow predominates.
Inflow of large holders: Outflow of large holders predominates.
Growth of active addresses: There is a decrease.
Growth of new addresses: There is a decrease.
Trading volume: Decrease in trading volume over the last 7 days.
Conclusion
At the moment, the price of ATOM/USDT is in the zone of significant support. The likelihood of a long scenario is 55%, given the oversold RSI indicator and increased trading volume at the support level. However, given the general downward trend and fundamental indicators, the probability of continued decline is also high (45%). Investors should monitor the situation closely and use risk management strategies, including setting stop losses.
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