#TrumpSaysIranWarHasBeenWon $The Automata currency ($ATA ) is currently experiencing strong selling pressure, but technical indicators have started to give signals of "sharp selling exhaustion" that may be followed by a corrective bounce. Here are the details:
1. Technical reading of the indicators:
General trend: Clearly bearish, as the price is trading below all exponential moving averages (EMA 7, 25, 50, 100, 200).
RSI indicator (Relative Strength Index): The indicator shows at levels of about 10.4. Historically, any number below 30 is considered a selling exhaustion zone, and reaching 10 is considered a "blowout" in selling pressure, raising the likelihood of a technical bounce occurring very soon.
Trading volume and open interest (O.I): We notice an increase in Open Interest (the green lines below), indicating new liquidity entering and intensive short positions at these low levels, which often precedes "Short Squeeze" operations to liquidate late sellers.
2. Support and resistance levels:
Current price: 0.0084.
Next support: The price is currently at its lowest levels, maintaining above 0.0080 is crucial to prevent additional collapse.
First resistance: 0.0092 (represented by EMA 7).
Second resistance: 0.0105 (represented by EMA 25).
1. Technical reading of the indicators:
General trend: Clearly bearish, as the price is trading below all exponential moving averages (EMA 7, 25, 50, 100, 200).
RSI indicator (Relative Strength Index): The indicator shows at levels of about 10.4. Historically, any number below 30 is considered a selling exhaustion zone, and reaching 10 is considered a "blowout" in selling pressure, raising the likelihood of a technical bounce occurring very soon.
Trading volume and open interest (O.I): We notice an increase in Open Interest (the green lines below), indicating new liquidity entering and intensive short positions at these low levels, which often precedes "Short Squeeze" operations to liquidate late sellers.
2. Support and resistance levels:
Current price: 0.0084.
Next support: The price is currently at its lowest levels, maintaining above 0.0080 is crucial to prevent additional collapse.
First resistance: 0.0092 (represented by EMA 7).
Second resistance: 0.0105 (represented by EMA 25).