• The short-term is in an uptrend while the medium-term outlook is in the downtrend.
• Traders may be considered selling at key areas.

ATOM/USD Medium-term Trend: Bearish

Supply zone: $10.00, $12.00, $14.00
Demand zone: $3.00, $2.50, $2.00

ATOM continues in a downtrend in the medium-term outlook. The bears finally broke the demand area at $4.20 after three attempts on 14th July as price fell to $3.93. The coin further drops to $3.85 in the demand area before the end of the yesterday session.

Today 4-hour opening price at $3.86 had the bears briefly in control as price dropped to $3.60 with the candle closed as a hammer.

The cryptocurrency is up at $3.98 with a large bullish candle. The breakout at the 10-EMA suggests a continued rally to the key supply area with price at $4.11 in the supply area.

The coin may continue to the key supply area as indicated by the signal of the stochastic oscillator at 40% before possible exhaustion and rejection which may usher in the bears back into the market.

ATOM/USD Short-term Trend: Bullish

ATOM is in the bullish trend in the short-term outlook. The bears lost momentum at $3.60 in the demand area shortly after today’s opening with the formation of a hammer as the candle closes. The bulls gradually took control of the market.

Increased bullish momentum led to the break of the two EMAs as the coin rose to $4.14 in the supply area.

The 78.6 fib area may be the target of the bulls at $4.20 in the supply area with the signal of the stochastic oscillator point up at 93% in the overbought region an indication of upward momentum in price in the short-term.

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