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Peter Oleshchuk
Mar 9, 2022
by Peter Oleshchuk

ATOM Technical Analysis: Positive Scenario Is A Test Of $44

ATOM

Table of contents

  1. Technical Analysis Of ATOM On The Daily Timeframe
  2. ATOMBTC Price Has A Prospect Of Falling By 10%
The desire of buyers to return to the growth trend and continue the positive dynamics is clearly visible on the ATOM weekly chart. Although the ATOM price has not been fixed above the black trend line, some successes on the part of buyers are noticeable. First, sellers failed to update the local low of the weekly candle from 13 December. At around $19, there is a strong liquidity zone where ATOM buyers are willing to keep their prices. It was on the way to this liquidity zone that the trading volumes on the ATOM market increased and buyers were able to organize a counterattack.

In fact, on 13 September 2021, the ATOM market began to consolidate in the global range of $19-$44. At the time of writing, the ATOM price is near the middle line of this consolidation. Therefore, in the absence of a trend, the importance of taking control of the trend line goes to 2nd place. Follow the $30 mark. If the trading week of 7 March ends above this mark, our main target is to test the mark of $44.

Technical Analysis Of ATOM On The Daily Timeframe

TradingView Chart

Analyzing the movement of the ATOM price on the daily timeframe, we can see the end of the local downward trend, which occurred on 24 February. The chart shows that high trading volumes did not help sellers even incorrectly update the local low from 15 December 2021. Also during the counterattack of buyers on 25 February the trading volumes increased significantly. This indicates a change of initiative in the ATOM market.

The local price correction, which began on 4 March, has actually been completed. Looking at the ATOM market situation, the maximum problem that sellers can now cause is a $26 test mark. But, such a scenario requires a serious negative in the BTC market. Given the great potential for BTC growth to $46,000, we expect ATOM to continue to grow in price. You can confidently buy an ATOM after testing the $34 mark and keeping control of the $30 mark. The main target remains the same - $44.

ATOMBTC Price Has A Prospect Of Falling By 10%

ATOM

The current uncertain ATOMUSDT price growth can be explained by a not very successful situation on the ATOMBTC chart. In fact, the ATOM price is growing only due to the aggressive BTC growth. At the moment, people are choosing to invest in Bitcoin over other cryptocurrencies. And this is clearly seen in the weekly chart of ATOMBTC. In recent weeks, trading volumes have fallen and there is a high probability that the ATOMBTC price will fall to 0.00064. If buyers keep this mark and at the same time the main growth trend - we will expect a strong growth impulse both in the pair to BTC and in the pair to USDT. Otherwise, a protracted correction of the global growth trend will begin, in which we will see a new ATOM price fall wave by 40%-50%.

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ATOM Technical Analysis: Positive Scenario Is A Test Of $44
Peter Oleshchuk
Peter came to know about cryptocurrencies in 2017 and was instantly enamoured by their massive potential. As he gained more insights about the crypto market, he began writing about it. Peter's daily activity is analysis and forecasting, studying the price movements probabilities, and trying to understand the market inside. He is glad to witness such a phenomenon as cryptocurrency and decentralized finance, and to participate in it.

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