Geopolitical tensions in the Middle East are reshaping the cryptocurrency landscape as military actions between the US, Israel, and Iran create market uncertainty.
Despite the turbulence, ATOM has shown remarkable stability, recovering from a sharp 5.83% decline to establish strong support zones.
Technical Analysis: ATOM’s Recovery Pattern
- ATOM-USD experienced a notable recovery pattern over 24 hours, dropping from $3.77 to a low of $3.55 (5.83% decline) before rebounding to close at $3.77.
- A significant volume spike of over 6 million during the 15:00 hour established strong support around $3.64, while resistance emerged near $3.79.
- The price action formed a clear V-shaped recovery pattern with higher lows developing throughout the latter half of the period, suggesting renewed bullish momentum.
- In the last hour, ATOM-USD continued its recovery momentum, surging from $3.76 to $3.77.
- A significant breakout occurred at 11:16 when prices jumped from $3.77 to $3.79, accompanied by the hour’s highest volume spike of nearly 28,000 units.
- The price action formed a clear ascending channel with strong support at $3.76, while resistance emerged at $3.78 during the 11:17 period.