A signal. On the daily chart, RSI hit 9.4 on
$ATOM ; on the 4-hour chart, RSI is 14.7. Extremely oversold.
$ATOM daily RSI 9.4, 4-hour RSI 14.7. Extremely oversold. Current price is 1.232. It has fallen 3.15% in the last 24h.
Support: 1.221, 1.261. Resistance: 1.287, 1.306.
Funding rate: -0.0108%. Shorts are paying longs; short positions are crowded. With this kind of deeply oversold condition plus a negative funding rate, the probability that the price can’t be pushed down further is rising.
Current price: 1.232
Bias: Slightly bullish
Entry zone: 1.220–1.240, stop loss: 1.205, targets: 1.265 / 1.290, risk-reward ratio from 1:2.2
It’s been falling for so long—daily RSI is in single digits. Historically, there aren’t many times you can just lie flat right away. I’m not guessing where the bottom is, but I’m willing to buy around 1.22. Put the stop loss slightly below the low; if I’m wrong, I’ll admit it.
I’m watching.
#ATOM #Cosmos # Oversold rebound