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ATOM Coin Can Start Its Rise from Critical Support! August 9th ATOM Price

  • It is noteworthy that ATOM is clearing long liquidity at the level of $8.31 and it is seen to be attempting to restart the uptrend.
  • 4-hour candle closures above the level of $8.61 are highlighted as a critical factor for the uptrend to gain strength.
  • If the price surpasses the $8.65 resistance, it is observed that the uptrend could further strengthen, targeting the level of $9.80.

Short-term technical analysis of ATOM indicates that the uptrend is being initiated and the price is significantly influenced by critical support and resistance levels. Investors should closely monitor the behavior of the price at these levels and shape their strategies accordingly.

Medium-term ATOM Price Analysis

Daily ATOM/USD Price Chart
Daily ATOM/USD Price Chart

The current technical analysis of ATOM shows that the price continues its sideways movement within the critical support range of $8.649 – $8.116. ATOM investors should closely monitor this critical support range and reconsider their spot investments, especially if there is a daily candle closure below the $8.11 level.

If the ATOM price manages to achieve strong daily candle closures above the $8.65 level, it may continue the uptrend. For a safer investment perspective, it is expected that the $8.65 resistance will be surpassed and a daily closure above it will be achieved.

If the ATOM price successfully surpasses the $8.65 resistance, the first target will be the level of $9.80. If the ATOM price achieves daily closures above the $9.80 level, it may aim to reach the main target mentioned in the analysis, which is the $10.49 level.

Short-term ATOM Price Analysis

4 Hour ATOM/USD Price Chart
4 Hour ATOM/USD Price Chart

When examining the short-term technical analysis of ATOM, it is observed that long liquidity at the level of $8.31 is being cleared and the uptrend is being initiated. If the ATOM price is supported by strong 4-hour candle closures above the $8.61 level, it may aim to move the uptrend towards the $9.19 region.

If the ATOM price achieves strong 4-hour candle closures above the $9.19 level, it may have the desire to expand the uptrend to the $9.584 level. During this process, ATOM investors should pay close attention to 4-hour candle closures above the $8.61 level.

However, if the ATOM price fails to achieve 4-hour candle closures above the $8.61 level, it may retrace the downtrend back to the $8.31 level.

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Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
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