ATOMUSDT at monthly support, likley to head towards 13.5-14.7

2023年6月4日

So this is high time frame analysis. The price is trading around monthly support MS1. It has tapped this support several times in past few weeks and every time the price has bounce to the upside although with diminishing degree. Still, it is likely that the price will make a larger move to the upside. It is possible that the price dips into this monthly support and breaches it briefly but even in that case I am not expecting it to go below the 8.84 level marked on the chart. But my bet would be that this monthly support holds and the price move upward from this support. The first target should be monthly resistance MR1. Other resistance levels are also marked on the chart.