A low was $4.20 with the forecasted fall of ATOMUSDT from $5.70 to the range of $4.30-4. 40 . And this is -25%.
It's time to update the $ATOM picture and refresh our thoughts.
Now there is a consolidation before a further strong impulse.
The trading delta suggests that there is more sales in consolidation than purchases. As a result, the ATOM price fall is more likely.
Buyers will struggle to defend $4.50-4.70 because there is no liquidity below this range to slow down the price down. If sellers break the defense, the downside impulse will be strong.
The first level from which more or less decent bounce can be expected will be $3.31.
If Bitcoin can update ATH and definitely fix there, then it could give confidence to altcoins buyers.
Then the battles between ATOM buyers and sellers will move to the zone of $6.
The winner will get everything: either a $7.30 flight or a strong and prolonged fall.
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