ATOM has been moving along a parabolic upward support line since June 22. As a result, the price rose on September 20 to an all-time high of $44.8.
? It was formed around $45-47, inside the convergence area of several Fibonacci levels – 1.61 outer retracement (black) and 1.61 wave length 1-3 (orange).
? Probably, the market reached the level of potential top. However, technical indicators continue to remain bullish. RSI index is above the 50 mark and MACD is rising.
? Thus, the trend can be considered bullish as long as the parabolic upward support line remains unbroken.