ATOM Technical Analysis: Buyers Are Preparing For Global Growth
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Thus, in the global timeframe, we see the formation of a consolidation triangle. An interesting fact is that in this triangle increased volumes are observed. This shows us that buyers have organized a comfort zone for themselves to gain a position. Keeping the price in good price positions has made ATOM cryptocurrency "sexy" for investors. Therefore, if Bitcoin price manages to fix above the global range of $40,500-$42,000, the first cryptocurrency to start active growth may be ATOM.
Technical Analysis Of ATOM On The Daily Timeframe
Analyzing the ATOM price movements on the daily timeframe, we can see the importance of the local range of $28. On 21 January, it was in this range that the ATOM price began to slow down a powerful fall wave. From this range, buyers were able to organize even a rebound. The next $28 attack took place on 27 January. Sellers again on high volumes could not confidently break this mark.
At the moment, buyers have managed to break the local trend line of sellers, which they have been keeping since 17 January. The final signal for the purchase of ATOM cryptocurrency will be a retest of the $28 mark. If buyers keep their price on this retest, we will expect it to grow to $45.
The ATOMBTC Price Has Come To The Purchase Zone
The ATOMBTC chart also shows that the price correction was quite democratic. The price came to the purple range, which was a serious problem for buyers in 2019-2020. The beginning of a rebound from this range is a signal from buyers that they are ready to keep the price.
Therefore, over the next 2 months, the ATOM cryptocurrency has a high chance of pleasantly surprising its investors. The first growth target of ATOMBTC in the medium term is 0.0017. If the cryptocurrency market continues to fall, the critical point for ATOMBTC continued growth will be 0.0059.