ATOM Technical Analysis: The Risk Of Falling To $4.3 Is Still Present

The positive confidence in ATOM cryptocurrency investors has been shaken since 6 June. Sellers managed to push the ATOM price below the most important liquidity zone of $8.7. In the previous article, we showed the importance of this range in the history of trading. Now, the $8.7 range is controlled by sellers. Good news! After breaking the $8.7 range, the ATOM fall did not accelerate significantly. Yes, the price continued to fall, but during the trading week of 13 June, buyers spent a lot of resources and terribly closed the weekly candle. Source: https://www.tradingview.com/x/DrzdkBmw/ Increased trading volumes and the formation of a pin down on the weekly candle indicate the presence of buyers and the willingness to defend ATOM with limited purchase orders. However, slowing down the price does not mean taking the initiative. Until the ATOM price is fixed above $8.7 on the weekly timeframe – we do not recommend buying this cryptocurrency. There is a high risk that the ATOM will continue to fall to $4.3. From this range, buying an ATOM with a target of $8.7 will be quite safe. But, not before. ATOM Technical Analysis On The Daily Timeframe Source: https://www.tradingview.com/x/ooy32DEW/ Analyzing the movement of the ATOM price on the daily timeframe, we can see that the fall wave has moved to a new trend channel. Sellers do not have enough strength to continue the rapid ATOM fall. Therefore, buyers began to organize deep price rebounds, starting on 12 May 2022. One such percentage occurs at the time of writing. The ATOM price tests the upper trend line of the fall channel. This is the perfect point for sellers to start a new impulse down with a $4.9 target. Until buyers break up and fix above the $ 8.7 mark, the scenario of continued fall is the main one. It is another matter of whether buyers will allow to update a local low. To do this, carefully observe the nature of the fall and the mark of $6.07. This mark can be a reversible foundation for buyers. The ATOMBTC Price Shows The Increase Of Buyers’ Strength In The Market Source: https://www.tradingview.com/x/ktdAOufc/ ATOMBTC weekly chart looks much more optimistic and promising than ATOMUSDT. To conclude, the beginning of the BTC price growth will dramatically change the situation in the altcoin market, including ATOM. The ATOMBTC price has been showing growth for as little as 2 weeks, rebounding from the liquidity range of 0.00027. In two weeks, buyers managed to absorb 4 weekly candles from sellers. In the case of local ATOMBTC downward correction, buyers must keep the range 0.0027 and not allow the price to update the local lows. This will be the signal to buy ATOMBTC with the first target of 0.00052.

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