ATOM/USDT, Potential to Reach FVG Zone

23 thg 11, 2023

The price is currently testing the 200 Exponential Moving Average (EMA) zone, which is often considered a critical level for maintaining bullish or bearish trends. It appears that the 200 EMA zone has been broken, suggesting potential bearish momentum but the breakdown was too quick without securing this zone there. In addition to that the Fair Value Gap (FVG) zone that has not yet been filled, indicating that there may be a price movement towards this area in the future.

The presence of strong support zones below suggests that if the price continues to decline, these areas might provide some level of price stability. However, the break below the 200 EMA may lead to further downside risk, potentially activating sell-side strategies targeting the lower support levels what we are also waiting for as well!

Swallow Team

24 thg 11, 2023

Ghi chú

We are still looking for this zone to be broken in order for FVG zones to be filled and a potential reach towards the support zone. Although the price is not moving currently, we see that there is clear uncertainty on the market!