Analysis and Prediction for $ATM
Current Price Action:
$ATM is trading at $2.184, up 3.70% in the last 24 hours. The price has bounced from the key support zone around $2.00, indicating bullish momentum.
Analysis:
Support Zone: The $2.00 - $2.05 range has acted as a strong demand zone, with multiple bounces observed on the chart.
Resistance Zone: Immediate resistance lies at $2.30, followed by a stronger resistance near $2.50.
Volume: Increased buying volume suggests renewed interest, possibly leading to further upside.
Prediction:
If bullish momentum continues:
Short-Term Target: $2.30
Medium-Term Target: $2.50
If the price retraces:
Support to Watch: $2.05
Trading Strategy:
1. Long positions can be considered near $2.18 with a stop-loss below $2.00.
2. Partial profits can be taken near $2.30 while holding for a breakout towards $2.50.
3. Monitor rejection at $2.30 to adjust the stop-loss to breakeven.
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