Atrium Price Analysis: The uptrend could push the price up to $ 10,000

The weekly review of the Atrium / Dollar market shows a classic model that, if done correctly, can push the price of the Atrium up to $ 10,000. But what is the probability of achieving the goal of this model?

According to the Kevin Telegraph, the uptrend triangle, as its name suggests, is a continuous pattern that emerges during uptrend. Analysts confirm the emergence of this pattern on the chart when the price fluctuates in the range of a right triangle and with this movement close to the bottom trend line of the model, a series of rising floors and resistance at the top of the pattern. As this model progresses, the volume of trade usually decreases.

Currently, a similar upward trend can be seen in the weekly market view of Atrium, whose lower trend line has acted as a range for buyers since the beginning of 2021, and as shown in the chart below, the upper trend line is approaching , the pressure on sales is also increasing.

Atrium Price Analysis: The uptrend could push the price up to $ 10,000
Atrium price table; Weekly market view of Atrium / dollar.

This model basically appears before a significant price jump and the size of this jump should be something equal to the maximum distance between the upper and lower trend lines of the model; That is, once the resistance of the model is broken, the price will probably increase so much.

If this model continues to work and everything on the chart goes according to calculations, the price of the Atrium may exceed the level of $ 10,000. In the longer term market, however, another technical model provides a target price of $ 4,000 for the Atrium.

Read also: Introducing 10 models of technical analysis charts that every trader should know

An analyst named Wolf, who is active on Twitter, expects the Atrium market to continue to experience upward movement. He attributes the upward trend to the possible upward pattern of the one-day market.

Atrium Price Analysis: The uptrend could push the price up to $ 10,000
Atrium price table; Wolf’s Atrium Analysis / Dollar Market Review.

Are the latest price fluctuations trapped by cows?

There was an upward trend when Atrium managed to prevent further price declines after falling to $ 2,150 in January. Atrium prices then rose more than 25 percent in less than four weeks.

On the other hand, some analysts see the recent process of rebuilding the atrium as a trap; That is, the situation develops in such a way that it can confuse traders with regard to the price trend and make them incur unexpected losses by liquidating trading positions. One of these pessimistic analysts is called “TheTreeTrader”, which published its analysis on the Trading View platform.

Regardless of the uptrend pattern of the Atrium chart, the analyst focuses on the downward trend line that appears in the one-day view of the November 2021 bitcoin market as resistance.

Although Atrium is currently fluctuating below this trend line, momentum indicators, especially the Relative Strength Index (RSI), MACD (MACD) and Stochastic RSI, are on the rise. Impulse indicators are tools that directly monitor the rise and fall of prices.

Atrium Price Analysis: The uptrend could push the price up to $ 10,000
Atrium price table; TheTreeTrader’s one-day analysis of the Atrium / Dollar market.

As a result, it can be said that there is a downward divergence between impulse indicators and atrium prices; This is usually accompanied by a reversal of the price direction. TheTreeTrader says that if that happens, the price of the Atrium could drop to $ 2,300. On the other hand, crossing and closing the price candle above the down line may increase the overall trend in the Atrium market.

Traders are worried about the possible formation of a bullish trap, as in the past the chart showed bullish models, but the price has not yet managed to survive a bullish failure.

Earlier in October 2021, Atrium set a similar upward trend with a target of $ 6,500. With the Atrium falling to $ 2,100 in recent weeks, confidence in this model seen in everyday life has waned.

Read also: What is a bull trap?

What is the state of the Atrium network?

Despite differing views on the state of Atrium’s pricing chart, the state of Atrium’s network indicators is promising.

For example, in 2021, about 18.36 million new addresses were added to the network, which means that 1.53 million new Atrium wallets are created every month and new users join the network.

Atrium Price Analysis: The uptrend could push the price up to $ 10,000
Plot a graph of the number of addresses with an inventory of the Atrium network.

Data from the analytical platform Golsnood show that the number of addresses containing at least one atrium reached its highest level in history on February 9 (February 20) – 1.42 million.

In addition, the number of addresses of assets and portfolios containing at least 0.1 Atrium reached a new record of 75 million and 7 million, respectively, on 15 February.

The publication Atrium Price Analysis: An Ascending Model Can Push Prices Up to $ 10,000 Appeared for the First Time in Digital Currency.

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