ATOR Looks BullishATOR was launched in April 2023. Since then, it has appreciated significantly, from an initial price of 0.006 to a high of 2.278 after 212 days (an increase of 3837%).
However, ATOR has been in a correction since November 16th and has pulled back by almost 80% from its high. While there are indications that the correction may be over, nothing is certain yet. If ATOR closes above 1.135 on a daily basis, it could be a good sign.
Since November 25th, ATOR has been consolidating in a rounding bottom pattern, which is typical of a correction phase. During this correction, the wicks in ATOR's price action negated the formation of supply zones, which could help ATOR reach higher price levels.
In my opinion, if ATOR is able to reclaim the 1.135 level, it could continue to climb higher. My immediate target for ATOR is the 0.618 Fibonacci extension at 1.84, but I believe it could go as high as the 1.272 Fibonacci extension in the future.
I hope this helps! Let me know if you have any further questions or concerns.
Trade Idea:
Entry: 1.135 (after a retest)
SL: 1.02
Target: 1.84
TP: 1.49, 1.84
R: R: 1:3 to first TP.
