ATOM Technical Analysis: Buyers Withheld At $9
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If we consider the most pessimistic scenario for the ATOM cryptocurrency - we should expect a rebound from $9 to $15. At this point, sellers can reactivate and push the coin price to $9 to break down. Though, given the likelihood of BTC starting a new growth wave, the best scenario for ATOM cryptocurrency is the growth to $20-$22. That's where the powerful liquidity zone is located, which sellers should not allow to pass from the first time.
ATOM Technical Analysis On The Daily Timeframe
Analyzing the ATOM price movement on the daily timeframe, we can see that buyers have organized a consolidation triangle with a flat top. Usually, such a triangle is more likely to break up. However, if the ATOM price retakes the $9 mark, it will be a good chance to make the first purchase of ATOM. It is better to divide the planned size of the position into two parts. At the $12 mark, sellers set up a defensive point. It is after the breakdown of the $12 mark that you can buy an ATOM with less risk. In this case, buyers will prove their willingness to build at least a local growth trend.
ATOMBTC Price Movement
ATOMBTC weekly price chart also reflected the loss of growth buyers channel. But, the price reached the main range of 0.00029. It is from this range that the ATOMBTC growth trend began in August 2021. During this growth wave, buyers managed to update the local high from August 2020. Now buyers have kept the ATOMBTC price and prevented the local low from being updated. And although the fall wave looks quite serious, but the ATOMBTC price globally began to move in an upward trend. Therefore, buying ATOM cryptocurrency in the global perspective is a good choice.