The positive confidence in ATOM cryptocurrency investors has been shaken since 6 June. Sellers managed to push the ATOM price below the most important liquidity zone of $8.7. In the previous article, we showed the importance of this range in the history of trading. Now, the $8.7 range is controlled by sellers. Good news! After breaking the $8.7 range, the ATOM fall did not accelerate significantly. Yes, the price continued to fall, but during the trading week of 13 June, buyers spent a lot of resources and terribly closed the weekly candle. Source: https://www.tradingview.com/x/DrzdkBmw/ Increased trading volumes and the formation of a pin down on the weekly candle indicate the presence of buyers and the willingness to defend ATOM with limited purchase orders. However, slowing down the price does not mean taking the initiative. Until the ATOM price is fixed above $8.7 on the weekly timeframe – we do not recommend buying this cryptocurrency. There is a high risk that the ATOM will continue to fall to $4.3. From this range, buying an ATOM with a target of $8.7 will be quite safe. But, not before. ATOM Technical Analysis On The Daily Timeframe Source: https://www.tradingview.com/x/ooy32DEW/ Analyzing the movement of the ATOM price on the daily timeframe, we can see that the fall wave has moved to a new trend channel. Sellers do not have enough strength to continue the rapid ATOM fall. Therefore, buyers began to organize deep pric...
