🔎 $ATOM Long downward wave… and selling is the strongest option now
On the weekly frame, $ATOM is still in a clear downward channel.
Every attempt to rise faces a strong resistance wall, and the price quickly returns to decline.
📌 Quick notes from the chart
- The price failed to break the resistance 4 consecutive times
- Every upward wave ended with stronger selling than the previous one
- The current buying area has given retracements… but is gradually weakening
📉 The technical structure is still bearish
- Lower highs + Lower lows = Negative trend
- The moving average (white) acts as dynamic resistance
- The yellow support line is the last “line of defense” before a significant drop
⚠️ Critical levels
- Green area (buyers): Short-term direction determining point
- Purple area (sellers): Very strong supply area
- Red resistance: Breaking it with a weekly close is the only condition to change the outlook
📌 Scenarios
✅ Temporary bullish scenario: Retracement from green → Testing purple → Potential rejection
❌ Bearish scenario: Breaking green → Collapse below support → Lower targets afterward
💡 Conclusion:
Until we see a weekly close above the downward resistance, any rise is considered a selling opportunity.
The structure is more important than hope, and pay attention to the decline in buyers' strength.
#BinanceFutures #ATOM #WeeklyAnalysis #CryptoTrading #AltcoinSignals