“A New Support Zone Has Been Established, Suggesting A Short-Term Bottom.”, – WRITE: www.coindesk.com
Atom/USD (Coindesk Data)
- Atom Experienced A 9% Decline Over 24 Hours, Droping from $ 4.43 to A Low of $ 4.02 Before Finding Support
- It Fell in Line with The Wider Market, WHICH SUFFERED AFTER ISRAEL Began A Bombing Campaign to Iran.
Israel Started A Bombing Campaign in Iran on Friday Morning, Spurring A Market Wide Sell Off.
After Falling 9.25% from $ 4.43 to a Low of $ 4.02, Atom Found Critical Support AUOUND The $ 4.04 Level Before Stabilizing Near $ 4.08.
While Atom and Other Altcoins have Faced Pressure Durying this Cycle, Bitcoin Has Positioned Itelf Alongside Gold As a Potential Safe Haven, Surging 54 Capitalization.
Technical Analysis
- Significant Selling Pressure Occurred Between 19: 00-00: 00, with Volume Peaking at 2.8m Dringing The 02:00 Hur As Price Found Support Near $ 4.04.
- A recovery attempt emerged from the 03:00 Hour, with Price Stabilizing AROUND $ 4.08, Forming A Potential Support Zone Between $ 4.04- $ 4.07 ConfirMed.
- Atom Broke Through the $ 4.08 Resistance Level with Substantial Volume (37,524) AT 13:31, Followed by Continueded Momentum Pushing Prices to $ 4.09.
- Trading Volume Peaked Durying The 14:00 Candle (73,628), Confirming Strong Buyer Interest at Tese Levels.
- A New Support Zone Has Establized Between $ 4.08- $ 4.09, Suggesting The Potential Formation of a Short-Term Bottom.
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