ATOM Forms V-Shaped Recovery Pattern, Trading Around $4.00

Cryptocurrency markets are stable as most assets trade within a tight range. The ATOM token is currently priced around $4.00, showing signs of upward movement.

Key points from technical analysis:

  • ATOM formed a V-shaped recovery pattern between July 1 and 2, with strong buying interest despite traditional market uncertainties.
  • A support level emerged at $3.91 during the July 2 session, where buying volume surpassed the average of 425,000 units.
  • The price range was $0.13 (3.24%), with resistance established around $4.04, indicating potential for further gains if breached.
  • From July 2, 13:06 to 14:05, ATOM-USD rose from $4.02 to $4.03, marking a 0.32% increase.
  • A cup-like pattern appeared, with a dip to $4.01 at 13:24 followed by recovery.
  • Increased volume was noted towards the session's end, particularly with over 33,000 units traded at 13:58-13:59, establishing a new support level at $4.02.
  • The price broke through the $4.03 resistance, achieving three consecutive higher highs from 14:03 to 14:05, suggesting continued upward momentum.