• ATOM/USD market is now in a range trading mote around $4 price territory.
• If the ATOM/USD bears hold stronger in the current consolidation movements, the market may retest or sit around the first-low value at $3 mark.

ATOM/USD Long-term Trend – Ranging

• Distribution territories: $6, $7, $8
• Accumulation territories: $3, $2, $1

The market operations between ATOM and the US dollar have turned out to in a range after long slow and steady downward price movements. Since July 14 until the present, the crypto-market has been closely fluctuating around $4 market territory.

The trend-line of the smaller SMA is a bit over the current market point slightly pointing to the south. The 50-day SMA trading indicator is above the 14-day SMA with a notable space between them. The Stochastic Oscillators now dipped into the oversold zone to now consolidate in it and around range 20.

Most of the trading indicators depict that the crypto bulls haven’t had a better signal to suggest a grand to seeing sustainable upswings of the market in a near trading session. Meanwhile, the bears may, in the long run, keep the crypto’s value around the same present range spot through the next sessions. And, if the buyers lose a bit in their energy, the market line may finally sit or retest its first-ever low value at $3 price territory.

Cosmos:

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.