Atrium Price Analysis: Upward Signs on the Chart
The price of Atrium continues to rise above the resistance level of $ 4,350 yesterday, and if buyers can push the price above $ 4,500, the upward movement will probably accelerate.
to the Report Atrium News started a new uptrend yesterday above $ 4,350 and was able to extend the jump by over $ 4,400.
The price even tested resistance at $ 4,500 at one point and is now trading above the 100-hour moving average (EMA). The price peaked at $ 4,506 and now the market is correcting the price. During the recent price correction, the $ 4,450 support and the 23.6% Fibonacci level were broken. In this analysis, Fibonacci levels are set based on the upward movement of the price from $ 4,282 to the peak of $ 4,506.
In the 1 hour view of the market, a bullish channel has formed a support near $ 4,400. If the price goes up, the nearest resistance is at $ 4,480 and the first key resistance is at around $ 4,500.
The closing of the $ 4,480 and $ 4,500 high candlesticks could start a new uptrend in the short term. In such a situation, the price chance to reach $ 4,650 increases and the continuation of the upward trend can bring the price closer to $ 4,800 in the short term.
On the other hand, if the price can not start a new uptrend above $ 4,500, the market may face a deeper correction. The first key resistance has formed near $ 4,400, which is in an area with approximately a 50% Fibonacci level.
Falling below this range could cause the Atrium price to fall more sharply, after which the price will probably reach the level of $ 4,250 again and the 100-hour moving average.
The MACD is moving out of the uptrend and the Relative Strength Index (RSI) is approaching the 50 level.
As mentioned, $ 4,400 is key Atrium support, and $ 4,500 acts as price resistance.