) broke and closed above the overhead resistance at $34 on Jan. 1. The moving averages have completed a bullish crossover, indicating that bulls have the upper hand.If the price sustains above $34, the bullish momentum could pick up further and the ATOM/USDT pair could rise to $38 and later to $43.28. The moving averages have completed a bullish crossover and the RSI is in the positive zone, indicating that bulls are in control.
If the price rebounds off this level, the bulls will make one more attempt to clear the overhead hurdle but if the pair breaks below the moving averages, the decline could extend to $25.Both moving averages are sloping up and the RSI is in the positive territory, suggesting that bulls have the upper hand. If the price rebounds off the 20-EMA, it will signal that sentiment remains positive and traders are buying on dips.
If they succeed, it will suggest the start of a new up-move. The first target on the upside is $0.34 and a break above it could result in a retest at $0.38. This positive view will invalidate if the price turns down and breaks below $0.21.The 4-hour chart shows the formation of a cup-and-handle pattern, which will complete on a break and close above $0.29. This reversal setup has a pattern target at $0.38.
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