ATMUSDT Pair Chart a potential bullish reversal pattern known as a rounding bottom or cup and handle formation

The Atletico de Madrid Fan Token (ATM) is a utility token that gives Atletico de Madrid Football Club ("Atletico de Madrid") fans a tokenized share of influence on club decisions using the Socios application and services.

Socios is a blockchain-based fan engagement and rewards platform for sports and entertainment organizations powered by Chiliz.

Support Level: The recent support level is around 1.562, as highlighted in the chart. The price has bounced from this level after a significant decline, indicating that buyers stepped in at this price point.

Resistance Levels: A strong resistance level is seen around 2.550. The price tried to break through this level but faced selling pressure and pulled back.

Another potential resistance is around the 2.200 level, close to the current price action.

This level could become a short-term resistance as the price tries to establish a breakout.

Moving Averages (MAs):MA(7) (short-term, yellow line) is at 1.787, acting as immediate support for the current price.

MA(25) (medium-term, pink line) is at 1.795, which the price has crossed, showing a shift in momentum.

MA(99) (long-term, purple line) is at 1.944, which the price just broke above, indicating potential for upward movement in the longer term.

The price is currently attempting to break out from the downtrend. The next key resistance is around 2.200, and if it can clear this level with good volume, the next target would be 2.550.

However, a failure to hold above the MA(99) could see a retracement back to the support level near 1.562.



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