$AGIX/USDT is showcasing a potential breakout indicating a crucial point for traders to monitor. The price is currently trading at $0.7165, experiencing a significant upward movement of +8.38%.
Key Technical Indicators:
~ Support: $0.5599, which aligns with the lower boundary of the ascending trendline starting from November 2023.
~ Resistance: Immediate resistance is noted around $0.7760, and further up, a critical resistance zone lies between $1.4043 and $1.4105, marked in yellow.
~ Moving Averages: The 50-day moving average (blue line) is acting as dynamic resistance, currently intersecting with the price action, indicating potential consolidation or a breakout scenario.
~ MACD Analysis: The MACD histogram shows decreasing bearish momentum, with the MACD line approaching a bullish crossover with the signal line. This suggests a potential shift towards a bullish trend in the near term
ATOM has been in a downtrend for a while and has finally reached the long-term support level ranging between $6.4 and $6.7.
Currently, the price is bouncing back, and it needs to break above the resistance trendline at $7.6 to confirm a rally toward the second resistance at $8.9 (a 32% rally).
The invalidation point for ATOM will be a candle close below the $6.2 support level.