Brief Analysis ——ATOM
Today we will share a brief analysis of 3 old-school tokens. They are ADA, ATOM and ONE.
After rising at the beginning of the 2023, ATOM has fallen since February. And after being defined as a security, it fell through the precious support level (red line). The subsequent rebound never got back above the red line. During the rebound, the bulls was only slightly stronger than the bears. There are very few long green candles and volume was much lower than before. Recently, the price dropped to the green dotted line.
Conclusion: Mostly falling. The rebound of ATOM did not cover the loss caused by FUD, so it remains bearish on a large scale. If the bulls cannot defend the dotted green line, the price will break out and keep falling. We set resistance level at 10.3, which is strong. Although the price has not confirmed that it has fallen below the green dotted line, but considering that the bears are dominant, we set support level at 8.2.
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
After rising at the beginning of the 2023, ATOM has fallen since February. And after being defined as a security, it fell through the precious support level (red line). The subsequent rebound never got back above the red line. During the rebound, the bulls was only slightly stronger than the bears. There are very few long green candles and volume was much lower than before. Recently, the price dropped to the green dotted line.
Conclusion: Mostly falling. The rebound of ATOM did not cover the loss caused by FUD, so it remains bearish on a large scale. If the bulls cannot defend the dotted green line, the price will break out and keep falling. We set resistance level at 10.3, which is strong. Although the price has not confirmed that it has fallen below the green dotted line, but considering that the bears are dominant, we set support level at 8.2.
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
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