• The short and medium-term outlook is in a downtrend.
• Responsible selling may be considered.

ATM/USD Medium-term Trend: Bearish

Supply zone: $10.00, $12.00, $14.00
Demand zone: $4.00, $3.00, $2.00

ATOM remains in the downtrend in the medium-term outlook. The bears' pressure returned after the brief bullish run at $6.50 in the supply area. This was a bounce off the trendline on 7th June and the coin to $5.95 in the demand area above the support at 50-EMA.

With increased momentum and breakdown at the 50-EMA support, the bears continued the journey down south during yesterday session with a new low at $6.15 in the demand area.

Price is below the two EMA and the stochastic oscillator signal points up at 29%. This suggests a minor push up possible to the trendline may occur before the downtrend continuation.

ATM/USD Short-term Trend: Bearish

ATM continues in the downtrend in the short-term outlook. The journey down south began shortly after the bullish exhaustion and the break at the trendline of the bearish flag at $6.13. $5.66 in the demand area was the cryptocurrency low of the day during yesterday session.

Today 1-hour opening candle at $6.50 was bullish an indication the market is in control of the bulls which may lead to a brief push up in price to the 50-EMA a strong resistance before momentum loss and subsequently the bears return.

$5.60 in the demand area may be retested as the bear pressure becomes stronger with more candles opened and closed below the two EMAs.

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