ATOM: Resistance Breakout
Trade setup: Price remains in an Uptrend. It has broken back above $12.00 resistance to signal resumption of uptrend, with +20% upside potential to $14.30, where it got rejected 2x (Double Top) in March. Stop Loss (SL) level at $10.60.
Trend: Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Mixed as MACD Line is below MACD Signal Line (Bearish) but RSI ~ 50 (Neutral). MACD Histogram bars are rising, which suggests that momentum could be nearing another upswing.
Support and Resistance: Nearest Support Zone is $10.00, then $9.00. The nearest Resistance Zone is $12.00, which it broke, then $14.30.
Trend: Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Mixed as MACD Line is below MACD Signal Line (Bearish) but RSI ~ 50 (Neutral). MACD Histogram bars are rising, which suggests that momentum could be nearing another upswing.
Support and Resistance: Nearest Support Zone is $10.00, then $9.00. The nearest Resistance Zone is $12.00, which it broke, then $14.30.
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