Atom Technical Analysis
ATOM hits the new lows since 2022.The price is moving inside the descending channel from approximately 156 days.
Currently, the price is on the support zone (Green) at $4.331 – $4.664 and résistance of the descending channel middle line.
There are two scenarios
Bullish Scenario
If the price breaks above the resistance zone (Blue) at $6.049 – $6.590 and the descending channel upper line with high volume we could the price to the next level at $8.853 and the momentum continues the price may reach to the highest level marked on the chart at $14.186.
Bearish Scenario
If the price fails to hold the support zone (Green) we might see decline in the price to the next support zone (Pink) at $2.988 – $3.309. We might see a further decline if the price fails to hold the support zone (Pink)
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