Atrium Price Analysis: An important resistance that needs to be broken

Atrium is forming a new support above the $ 3,850 level, and if buyers continue to cross the key resistance of $ 4,000, the price could start a new uptrend.

To Report Two days ago, Atrium News started its price recovery above the resistance level of $ 3,750 to $ 3,800 and managed to cross the $ 4,000 and 100-hour moving average (SMA) average.

However, the price could not cross the resistance range between $ 4,040 and $ 4,050, and after the formation of the price peak at $ 4,037, the market started a corrective trend. The correction was accompanied by falling prices below $ 4,000 and $ 3,950.

Atrium is currently trading below the 100-hour moving average and the 23.6% Fibonacci retracement level. In this analysis, Fibonacci levels are adjusted based on the upward movement of the price from $ 3,696 to the peak of $ 4,035.

If buyers continue to turn the market in their favor, the closest resistance they will face is in the $ 3,950 range. Another resistance can be seen in this area, which is related to the downtrend line on the chart. The first key resistance to the price is at $ 4,000, and crossing it could be the start of a new uptrend in the short term.

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The next hurdle for buyers is at $ 4,100, and crossing this level could lead to a price jump of up to $ 4,250.

On the other hand, if buyers can not overcome the $ 4,000 barrier, the downtrend may continue. In this case, the closest price support will be at $ 3,900.

The first key support is in the $ 3,850 range and the 50% Fibonacci retracement level. Breaking this level could lead to a deeper fall in support to $ 3,700 support.

The MACD is slowly breaking out of the uptrend and the Relative Strength Index (RSI) is near the 50 level.

As mentioned, $ 3,850 is key Atrium support, and $ 4,000 acts as price resistance.