- If the ATOM price reaches the specified resistance zones, it may face selling pressure and continue its downward movement.
- The support levels for ATOM are determined as $9.12 and $8.95.
- If the ATOM price can close above the blue resistance line, it can continue its upward movement and target the $10.49 level.
When examining the technical chart of ATOM, it can be observed that the price encounters selling pressure and performs a downward movement when it touches the blue resistance line. The specified resistance and support levels in the analysis determine critical points for the price movement of ATOM.
Medium-Term ATOM Analysis
Daily ATOM/USD Price ChartWhen examining the technical chart of ATOM, it can be observed that the price encounters selling pressure and performs a downward movement when it touches the blue resistance line. The ATOM price has declined to the $9.068 level and is currently trading at around $9.489.
If the ATOM price can close daily above the blue trend line, it can continue its upward movement towards the $10.49 level. However, if ATOM cannot close above the resistance line, it can extend its downward movement to the $8.64 level.
In order to clear the liquidity level at $8.236, the ATOM price may experience a decline to the $8.23 level and aim to close long positions at this point. If ATOM can close daily above the $8.64 level, it can initiate its upward movement from this zone and progress towards the $12.38 level.
Short-Term ATOM Price Analysis
When examining the technical chart of ATOM, it can be seen that it is in a sideways movement. If the ATOM price reaches the specified resistance ranges of $9.709, $9.794, and $9.878, it may face selling pressure from these zones, and short confirmations can be sought with a stop point set at $10.12.
If the ATOM price encounters selling pressure from the resistance ranges of $9.709, $9.794, and $9.878, it can initiate its downward movement from this range to the $9.12 level and then to the $8.95 level.
If the ATOM price can close 2 hours below the $8.95 level, it can extend its downward movement to the $8.63 level. However, if the ATOM price can close 2 hours above the $9.88 level, it can expand its upward movement to the $10.40 level.
