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Vikram
Mar 22, 2022
by Vikram

ATLAS Technical Analysis: Bullish Pattern Eyes $0.03

ATLAS
ATLAS coin price shows a solid bullish cup and handle pattern in the 4-hour chart, which may shortly give a breakout rally above the 200-day EMA.

Key technical points:

  • ATLAS coin price struggles to surpass the 100-day EMA.

  • The MACD and signal lines are nearing a bullish crossover

  • Finally, the 24-hour trading volume of Star Atlas is $10.25 Million, marking a 106% rise. 

    • Past Performance of ATLAS

    ATLAS price has fallen to a new lower low at $0.23 on March 15th. The buyers showed strong interest in this discount price and immediately rebounded the altcoin with a bullish engulfing candle. The V-shaped recovery has surged the coin price by 20%, hitting the $0.028 monthly resistance. 

    TradingView Chart

    ATLAS Technical Analysis 

    A bearish reversal from the $0.028 resistance had tumbled the ATLAS price by 10% and pulled it below the $0.025 support. However, an upcoming trendline prevented further loss and pushed the altcoin back above the breached support line.

    In addition, the technical chart shows a cup and handle pattern forming in the 4-hour time frame.           

    The recent price has reclaimed the rising 20-and-50 EMA, indicating the bulls are wresting control from bears in the short term. However, the coin price moving below the 100 and 200 EMA maintain an overall bearish tendency.

    RSI Indicator: the RSI slope reenters the bullish territory after the recent correction caused a minor dip. Moreover, the string shows an uptrend continuation in the nearly overbought zone with the 14-day SMA.

    MACD Indicator: Despite a minor correction, the MACD and signal line sustained above the neutral zone(0.00) indicated a bullish bias. Moreover, these lines approaching a bullish crossover provided additional confirmation for potential.

    In a nutshell, the ATLAS technical analysis shows early reversal signs, which could lead to a short-term bull run.

    Upcoming Trend 

    The ascending trendline could assist buyers in pushing ATLAS price to $0.028 resistance. If buyers breach and close above this bullish pattern neckline, the rally could hit the 5.44% high resistance at $0.03. Furthermore, a follow-up breakout would open the door for the $0.34 mark

    On the opposite end, a breakdown from the support trendline could sink the ATLAS price by 11.5% to the march low($0.023)

    Support Levels: $0.0257 and $0.0243

    Resistance Levels: $0.028 and $0.03

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    Technical Analysis Star Atlas ATLAS
    ATLAS Technical Analysis: Bullish Pattern Eyes $0.03
    Vikram
    Vikram is a technical analyst with several years of experience in the crypto market & Indian Equity and F&O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

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