Hello!
Here is a modest attempt to analyze the 4h chart of ATOM / EUR.
At first glance I point to the MACD, which strives further up and just before the 0 line. Here an excess is likely to be a positive signal, and at the moment the distance from the signal line seems to be increasing again.
On the chart itself, Atom fights against the EMA20 and can not rise above it. Should this succeed, wait for the EMA50 and the red dotted trend line from 2 May. Furthermore, Atom is located in a small ascending channel, which has previously provided 3x support. Should Atom fall underneath, support is waiting for the deep of May 10th at € 3.18.
The EMA50 is likely to be a stubborn resistance as it trades at the same level as the EMA20 in the daily chart.
Here is a modest attempt to analyze the 4h chart of ATOM / EUR.
At first glance I point to the MACD, which strives further up and just before the 0 line. Here an excess is likely to be a positive signal, and at the moment the distance from the signal line seems to be increasing again.
On the chart itself, Atom fights against the EMA20 and can not rise above it. Should this succeed, wait for the EMA50 and the red dotted trend line from 2 May. Furthermore, Atom is located in a small ascending channel, which has previously provided 3x support. Should Atom fall underneath, support is waiting for the deep of May 10th at € 3.18.
The EMA50 is likely to be a stubborn resistance as it trades at the same level as the EMA20 in the daily chart.
Kommentera:
The volume seems to be increasing, but the sellers have the upper hand. This could be a weakness and the price could fall below the green line if the buyers are not entering the market.