VIP MARKET UPDATE: $ATOM
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$ATOM is trading around the 1.951 area after pushing to fresh highs near 2.060 and pulling back sharply to retest the 1.930–1.950 demand zone marked on the chart. The ascending trendline that has been supporting the structure since late March remains intact well below current price, and the demand zone now becomes the first line of defense for the bullish structure that has been building for weeks.
As long as ATOM holds above the 1.930 area, the pullback remains corrective and a recovery toward the 2.000–2.060 highs is the more likely outcome. A clean loss of the demand zone on a closing basis would shift the short term picture and open the door toward the trendline below near the 1.800 area, which would still be a healthy retracement within the broader uptrend.
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