ATOM Establishes Support at $4.25 After 4.7% Decline
The cryptocurrency market faces volatility amid rising tensions between U.S. President Donald Trump and Tesla CEO Elon Musk.
ATOM has established support around $4.25 following a 4.7% decline, with strong buying demand indicating potential recovery.
This comes as major economies adopt conflicting trade policies, impacting financial markets globally. Central banks' changing monetary policies may offer some relief for digital assets, despite ongoing geopolitical tensions.
Technical Analysis
- Support zone formed at $4.25-$4.27, confirmed by high volume buying of 1.42M at 20:00.
- Recovery pattern noted with ATOM rising from $4.295 to $4.314, a 0.45% gain.
- Uptrend established with higher lows and highs between 07:10 and 07:21, peaking at $4.338.
- Significant buying interest recorded during the uptrend at 07:15 and 07:20, with volumes over 25,000 units.
- Final 15 minutes showed bullish momentum, closing near hourly high at support of $4.309.