ATOM Technical Analysis: Buyers Did Not Fix Above $9
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The first local price stop under these circumstances can be around $7. If we do not see the interest of buyers near this range, the probability of updating the local low from 13 June will increase significantly. In this case, you should buy ATOM no earlier than $4.3.
Until the ATOM price is fixed above $7, it is dangerous to buy ATOM and only within the framework of short-term upward rebounds.
Technical Analysis Of ATOM On The Daily Timeframe
Analyzing the movement of the ATOM price on the daily timeframe, one can notice the formation of a consolidation range of $6-$9. The middle line of this consolidation passes near the $7.3 mark. From the $7.3 mark, buyers have a chance to organize a local rebound and test the strength of sellers in the $9 range again.
If this test is weak - it is worth considering the ATOM cryptocurrency for short positions with the first target of $6. Though, analyzing the bounce of ATOM from 19 June, it becomes clear that for buyers it is necessary to at least retest the $6 mark. The amount of positions that buyers took in the range of $6 between 13 June and 18 June is not enough to organize a strong rebound after such a strong coin fall wave.
ATOMBTC Price Is Planning To Fall For Several Weeks
The weekly chart of ATOMBTC indicates the completion of the upward price rebound. Given the fact that the price of ATOMBTC is falling along with the Bitcoin price, the ATOM price paired with USDT has a high chance of a massive collapse. Considering the fact that ATOMBTC has a weak rebound, the probability of updating the local low is quite high.
In this case, the ATOM cryptocurrency should be forgotten for a while, as the new fall wave will be no less powerful than the previous one from January 2022. The critical point for buyers in the long term is the 0.00028 mark. If the ATOMBTC price settles below it, the mood of investors will only worsen.
