TradeCityPro | ATOMUSDT Restarting Daily Analyses!👋 Welcome to TradeCityPro Channel!
Let's get back to our daily analysis routine starting today! From now on, I’ll be sharing daily altcoin analyses again. Today, we’re focusing on one of my favorite coins for futures trading: ATOM.
🌐 Overview Bitcoin
Before starting the analysis, I want to remind you again that we moved the Bitcoin analysis section from the analysis section to a separate analysis at your request, so that we can discuss the status of Bitcoin in more detail every day and analyze its charts and dominances together.
This is the general analysis of Bitcoin dominance, which we promised you in the analysis to analyze separately and analyze it for you in longer time frames.
📊 Weekly Time Frame
ATOM is currently neither in a great position nor in a terrible one. Unlike some altcoins like BNB, SOL, and SUI that have moved towards their highs, ATOM hasn’t made a significant move towards $44 yet. However, it also hasn’t lost its major lows.
The strong green candle from the past two weeks bounced off the $3.728 support level, confirming that this level remains significant and won’t be easily lost. But this alone is not a reason to buy. After the candle closed, the price did not make a significant move.
If you are holding ATOM (like me, as I have staked ATOM in my wallet), I would exit below $3.728 because there is a high probability of a sharp drop toward $1.824.
For buying opportunities, setting a stop-buy order above $5.088 could be an option. We’ll discuss this more in the daily time frame section.
📉 Daily Time Frame
After bouncing off the $3.58 support, we started a bullish move but couldn’t reach $14.184. Instead, after getting rejected at $10.434, we formed a lower high and continued the price correction.
Following this rejection, we continued forming lower highs and lower lows based on Dow Theory. After breaking $5.665, which was an important support, we experienced a sharp drop, reaching the $3.585 support level. After bouncing, a V Pattern was formed.
$4.948 is an important level to watch as it triggers both the V Pattern activation and the trendline breakout.
I will only open short positions below $4.337, but I will not sell my coins unless $3.585 is broken, in which case I will exit my holdings.
⏳ 4H Time Frame
After getting rejected at $4.948, the price dropped to the $4.424 support level. Since it’s Saturday and the market is relatively slow, we might see range-bound movement around this level.
🔴 Short Position:
If $4.424 breaks and RSI enters the oversold zone with increased volume, we could see a short opportunity targeting $4.020.
🟢 Long Position:
I am currently waiting and prefer to open a long position on MKR instead. I don't want to waste the $4.948 trigger, so I will wait for a confirmed breakout before entering a position.
✍️ Final Thoughts
Stay level headed, trade with precision, and let’s capitalize on the market’s top opportunities!
This is our analysis, not financial advice always do your own research.
What do you think? Share your ideas below and pass this along to friends! ❤️
