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

ATOM/USD Medium-term Trend: Bearish

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

ATOM is in a downtrend in the medium-term outlook. The lower demand area of the range at $5.00 was broken during yesterday session with a large marubozu candle. Price fell to $4.88 in the demand area.

A retest of the broken demand area occurred before the end of the day as the bulls pushed price back up to $5.07 and the candle closed as an inverted hammer, a trend reversal signal.

This was a correction and confirmation of the bearish continuation in the medium term. The bears sustained the momentum as the market opens today at $4.97.

Price is down to $4.74 the stochastic oscillator signal points down at 6% in the oversold region, suggesting a downward continuation in price of the coin the medium-term. $4.50 in the demand area is the bears' initial target.

ATOM/USD Short-term Trend: Bearish

ATOM is in the bearish trend in the short-term outlook. The bears made a comeback after bullish exhaustion at $5.07 as the market opens today at $5.05. ATOMUSD plunges to $4.74 in the demand area due to strong pressure on the cryptocurrency by the bears.

The signal of the stochastic oscillator signal points down at 4% in the oversold region and price is below the two EMAs, an indication of downward momentum in price.

$4.70 in the demand area is a key demand area, as the bears keep the pressure up.

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