ATOM fluctuated between $4.64 and $4.85 on Monday amidst a backdrop of bullish sentiment, following Bitcoin’s surge to a new all-time high of $123,000.
ATOM’s price action demonstrated a classic V-shaped recovery, dipping to $4.64 before climbing to the $4.85 resistance level.
It’s important to note that ATOM is significantly lower than its peak of $44.55 during the previous altcoin season.
Should it break above $5.46, it would signal a bullish breakout, with potential targets set at $6.20 and $7.75.
Technical Indicators Summary
- MACD shows a positive crossover, indicating a shift towards bullish momentum.
- RSI registers at 62.40, indicating moderate buying interest without reaching overbought levels.
- Trading volume exceeded 40,000 units, suggesting institutional involvement.
- Support levels are established between $4.64-$4.67, supported by heavy trading volume.
- Resistance appears near $4.85-$4.86, where selling pressure is likely to accumulate.
- A pattern of higher lows around $4.67-$4.68 confirms the continuation of an uptrend.
Disclaimer: Portions of this article were generated using AI tools and reviewed by our editorial team for accuracy. For full details, refer to RialCenter’s comprehensive AI Policy.
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