Oversold RSI Indicates 15% Jump In ATOM Price

ATOM price pauses the autumn on Tuesday with vital positive factors. The worth finds dependable assist close to $23.0, which additionally occurs to be a double backside formation. Traders provoke a dip-buying alternative that pushed the worth above the $25.0 stage.

• ATOM’s value bounces again to $25.0 with greater than 5% positive factors.
• A fast restoration towards the 200-day EMA on the playing cards close to $29.0.
• A break beneath double-bottom round $23.0 will set off one other spherical of sell-off.

The 24-hour buying and selling quantity of the cryptocurrency holds at $636,626,493. As of writing, ATOM/USD trade fingers at $24.83, up 4.11% for the day.

ATOM value might bounce again

On the each day chart, ATOM value tracks acquire because it arrives close to dependable assist. Beforehand, the worth witnessed an ascent of 44% to the swing highs of March 3 at $34.46. The ATOM patrons might try to bounce again to the earlier session highs of $26.60.

A resurgence within the shopping for order might push towards the 200-day and 50-day EMAs (Exponential Transferring Common) at $28.48 and $28.56 respectively.

Alternatively, if the worth slipped beneath the session’s low then it might revisit $21.0. On the weekly chart, a ‘hammer’ formation close to the 50-day EMA at 25.75 might push towards the psychological $30.0.

Technical indicators:

RSI: The each day relative power index approaches the oversold zone. Nonetheless, any uptick within the indicator might strengthen the upside outlook.

OBV: The on-balance quantity indicator rises together with the worth.