$ATOM UPDATE 🚀
ATOM is trading around 1.536 after a sharp breakdown from the descending channel that has been in place since the 2.500 highs in February, with price now sitting at the lower channel support near 1.536. This is the same trendline that provided a major bounce in early April, making the current test a critical structural moment that needs to hold to avoid a full breakdown.
A hold above the lower channel near 1.536 and a reclaim of 1.640 would open the door for a recovery toward the 1.760–1.840 range. Losing 1.500 on an 8H close would be a significant structural breakdown, exposing the 1.465 area. Reclaiming 1.700 would be the first real confirmation that the channel support is holding.
#ATOM #Erinacrypto $ATOM
ATOM is trading around 1.536 after a sharp breakdown from the descending channel that has been in place since the 2.500 highs in February, with price now sitting at the lower channel support near 1.536. This is the same trendline that provided a major bounce in early April, making the current test a critical structural moment that needs to hold to avoid a full breakdown.
A hold above the lower channel near 1.536 and a reclaim of 1.640 would open the door for a recovery toward the 1.760–1.840 range. Losing 1.500 on an 8H close would be a significant structural breakdown, exposing the 1.465 area. Reclaiming 1.700 would be the first real confirmation that the channel support is holding.
#ATOM #Erinacrypto $ATOM