ATOMUSDT BULLISH CONTINUATIONDaily Buying Zone (10.65 to 10.98): On the daily timeframe, you've identified a buying zone for ATOM/USDT between $10.65 and $10.98. This range suggests a level where significant buying interest has historically emerged, possibly acting as a support zone. Traders often look for such areas to enter positions, anticipating a bounce in price from these levels.
Fresh Buying Zone for 4-Hour (11.2 to 11.4): Additionally, on the 4-hour timeframe, there's a fresh buying zone identified between $11.2 and $11.4. This zone indicates a recent area where buying pressure has been observed, possibly signaling renewed bullish momentum.
Respecting Trendline: You've mentioned that ATOM is respecting a trendline, which adds further confluence to the bullish scenario. When a cryptocurrency respects a trendline, it suggests that the price is following a certain direction, reinforcing the validity of the trend.
Expected Rally of 34%: It's noted that the expected rally in ATOM/USDT is around 34%. This indicates the potential upside movement in price from the identified buying zones to the anticipated peak of the rally. Such projections are often based on technical analysis indicators, historical price movements, and market sentiment.
Two Target Prices: You've set two target prices, suggesting levels at which you plan to take profits or partially close your position. These target prices are likely based on technical analysis indicators, such as resistance levels or Fibonacci extensions, and help traders manage their trades effectively by having clear exit points.
In summary, the analysis suggests a potential trading opportunity in ATOM/USDT, supported by identified buying zones, trendline respect, and an expected rally. By setting target prices and managing risk, traders can navigate the market with a clear plan, aiming to capitalize on potential price movements while protecting their capital from adverse outcomes.
