Automata ATA is trading in an uptrend, like many other Altcoins. The cryptocurrency ATA just went up +195% in a single day by breaking a rising wedge pattern with strong buying volume on multiple exchanges and surges over +230% in a week.
What is Automata?
Automata Network ATA is a decentralised service protocol that provides privacy middleware for dApps across multiple blockchains. It enables versatile use-cases such as Anonymous Voting, Miner Extractable Value (MEV) minimisation, and No-tracking Indexing by leveraging on the latest cryptography and privacy-preserving algorithms, along with trust computing technologies.
ATA Price Analysis
At the time of writing, ATA is ranked the 247th cryptocurrency globally and the current price is A$2.44. Let’s take a look at the chart below for price analysis:
After looking at the above 4-Hour candle chart, we can clearly see that ATA was trading inside the rising wedge pattern on the ATA/USDT pair. The first resistance was on the A$1.47 price level, which ATA broke with a strong bullish trend buying volume and is now heading towards the recent high price at A$2.49. Seeing that many Altcoins are holding a strong position this week after the recent bitcoin price recovery, ATA may continue to increase in the uptrend if traders keep buying with high volume.
“The Rising Wedge is a bearish pattern that begins wide at the bottom and contracts as prices move higher and the trading range narrows. As a reversal pattern, the rising wedge will slope up and with the prevailing trend.”
What Do the Technical Indicators Say?
The ATA TradingView indicators (on the 1 day) mainly indicate ATA as a Buy, except the Oscillators which indicate ATA as a Neutral.
So Why Did ATA Breakout?
General market sentiment seems to suggest cryptos are hopefully turning back bull run season after recent massive price corrections. Another reason for this sudden pump in price could be whales secretly buying ATA for the next Altcoins rally. Recent news was also announced regarding a Giveaway of $2500 ATA in total for 25 winners to celebrate ATA on coin98 Wallet.
Where to Buy or Trade ATA?
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