Technical Analysis for $ATOM
/USD (Perp)
Current Price: $8.728
Trend: Bearish (based on the last 24-hour drop of 0.73% and the current market conditions)
Support & Resistance Levels:
Support Level 1: $8.60 (recent 24h low)
Support Level 2: $8.50
Resistance Level 1: $9.00 (recent 24h high)
Resistance Level 2: $9.10
Momentum:
The price shows bearish momentum, with a slight retracement after the high at $9.09. A potential further drop may target the support levels.
RSI (Relative Strength Index): If not provided, it would typically help identify overbought or oversold conditions. Based on the movement, it could be hovering in the neutral zone.
Trade Signal:
Short Entry: Below $8.70 (after a break of current support)
Stop Loss: $9.10 (above recent resistance)
Targets:
1. Target 1: $8.50 (Support level 2)
2. Target 2: $8.20
3. Target 3: $8.00 (potential strong support zone)
If the price breaks above resistance, you may consider going long, with potential targets:
Target 1 (for Long Position): $9.00
Target 2: $9.20
Target 3: $9.40
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