ATOM is a well-established cryptocurrency that is now gaining the attention of investors and traders. OKEx has just announced to extend its real-time settlement feature for ALGOUSD, ATOMUSD, and 20+ coin-margined perpetual swaps. How ATOM Has Moved? After opening at $8.90 on February 3, 2021, the ATOM price has risen by approx. 69% in the past week. As of February 9, 2021, ATOM closed at $15.06. Thus, the ATOM price is on an upswing. In the last 24 hours, the ATOM price reached a 24-hour high of $15.58 after hitting a 24-hour low of $13.93. https://ift.tt/3tGVjhE Technical Indicators for ATOM Currently, ATOM is trading at $14.95 – a fall from the opening price of $15.05. The A/D indicator is rising. This implies that accumulations are more than distributions. As buying pressures are high, we can expect the price to rise further. However, the OBV indicator is falling. Thus, selling volumes are slowly surpassing the buying volumes. Hence, a price correction may occur. The EOM (Ease of Movement) indicator is negative. This implies that the price can fall relatively easily. Thus, the EOM indicator is pointing towards a price pullback. The ADX indicator has started declining again after rising for some time a couple of hours back. Thus, the uptrend is not strong enough. The market is losing its breath and a trend reversal may occur. Hence, we can expect a price pullback. The AO indicator is positive and giving ‘buy’ signals. The MACD and signal lines are also positive. But, a bearish crossover by the MACD line over the signal line indicates a price pullback. The SMA and EMA lines are above the price line. Hence, they are giving ‘sell’ signals. So, the market can turn bearish. The RSI indicator is currently at 54%. Thus, whales are offloading the crypto in large numbers. Hence, we can expect the price to fall. Currently, the price is just above the Fibonacci pivot point of $14.85. A bearish trend will set in if the price goes below the first and second Fibonacci pivot support levels of $14.22 and $13.84 respectively, by the end of the day. However, if the price manages to break above the first Fibonacci point resistance level of $15.49, then we can expect the bull-run to continue. The current price is exactly at the 61.8% FIB retracement level. If it falls to the 38.2% FIB retracement level of $14.56 and further to the 23.6% FIB retracement level of $14.32, then a downtrend is confirmed. As of now, the price trend looks bullish with intermittent price pullbacks. We can expect the general bullish momentum to continue tomorrow as well.
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