ATOM traded within volatile range between $4.64 and $4.85 on Monday.
The move comes among a backdrop of bullish sentiment after bitcoin (BTC) rose to fresh record highs of $123,000 on Monday.
ATOM price action shows classic V-shaped recovery, dropping to $4.64 before rallying hard to the $4.85 level of resistance.
It’s worth noting that ATOM remains far lower than the previous bull market when it topped $44.55 in a classic “altcoin season.”
In the short term, a break above $5.46 would indicate a bullish break out with upside targets expanding to $6.20 and $7.75.
Technical Indicators Summary
- MACD posts positive crossover signaling bullish momentum shift.
- RSI hits 62.40 showing moderate buying without overbought signals.
- Volume spikes past 40,000 units confirm institutional participation.
- Support zone locks in at $4.64-$4.67 with heavy volume backing.
- Resistance forms near $4.85-$4.86 where selling pressure builds.
- Higher lows pattern around $4.67-$4.68 confirms uptrend continuation.
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