Atrium Price Analysis: A Study of Price Supports and Resistances

The recent downturn in the Atrium was accompanied by a drop below $ 2,800. The market is currently recovering from last week’s levels, but the $ 2,800 level has already turned into strong resistance.

Atrium’s latest downturn since the beginning of the week began with a break of support of $ 2880, according to BT News. After the break, support at $ 2,750 and the 100-hour moving average (SMA) were lost and the overall market trend continued to decline.

The price even fell below $ 2,640 at one point and reached $ 2,575 at its lowest level. The uptrend has already started in the market, with Atrium being just over $ 2640. The recent bullish correction we are talking about also brought with it a break of the resistance line of $ 2,650 on the chart.

The atrium is currently above the Fibonacci correction level of 23.6%. In this analysis, Fibonacci levels are adjusted based on the downward price movement of $ 3,188 to the bottom of $ 2,575.

As the market grew, the closest price resistance was $ 2,755, followed soon by $ 2,800, and the simple 100-hour moving average acted as Atrium’s key resistance. Crossing and closing the $ 2,800 high candlestick could pave the way for a jump to $ 2,880. Add to this the fact that a 50% level of Fibonacci resistance has formed close to that level.

Atrium Price Analysis: A Study of Price Supports and Resistances
Atrium price chart (Click on the image to see the original size)

The success of buyers to cross the $ 2,880 mark could trigger a continuing upward trend. Buyers will then try to pass the $ 3,000 level, which is significant resistance.

On the other hand, if Atrium fails to reach levels above $ 2800, a new downward adjustment may begin in the market. As the market shrinks, the closest price support is $ 2,710.

Then $ 2,650 acts as a key support for the price and breaking it would be a warning of a deeper decline. The next key support is in the order of $ 2,580. Falling below this level could also lead to a drop in the price range to $ 2450 in the short term.

The MACD is on an upward trend and the Relative Strength Index (RSI) is above the 50 level.

As mentioned, $ 2650 is key support for the Atrium, and $ 2800 acts as a price resistance.

The publication Atrium Price Analysis: A Study of Price Supports and Resistances first appeared on Arzdigital.

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