ATOM Forms Bottoming Pattern and Surges to $4.27
The conflict in the Middle East is losing its impact as ATOM shows a bottoming pattern around the $4.01-$4.05 support zone, followed by a breakout in resistance with strong volume.
Technical Indicators
- ATOM formed a bottoming pattern at $4.01-$4.05 on June 15, confirmed by above-average buying volume.
- Recovery accelerated on June 16, breaking the $4.18 resistance level with sustained high volume.
- A new uptrend channel is evident, marked by higher lows and higher highs, indicating bullish momentum.
- ATOM rose from $4.244 to $4.274 in the last hour, a gain of 0.7%.
- The price formed an ascending channel with higher lows at $4.238, $4.249, and $4.262.
- A volume spike occurred at 14:02, surpassing the $4.265 resistance level with over 32,000 units traded.
- ATOM reached a local high of $4.274 before consolidating, affirming the ongoing recovery trend.