Technical Analysis for $ATOM

/USD (Perp)

Current Price: $8.728

Trend: Bearish (based on the last 24-hour drop of 0.73% and the current market conditions)

Support & Resistance Levels:

Support Level 1: $8.60 (recent 24h low)

Support Level 2: $8.50

Resistance Level 1: $9.00 (recent 24h high)

Resistance Level 2: $9.10

Momentum:

The price shows bearish momentum, with a slight retracement after the high at $9.09. A potential further drop may target the support levels.

RSI (Relative Strength Index): If not provided, it would typically help identify overbought or oversold conditions. Based on the movement, it could be hovering in the neutral zone.

Trade Signal:

Short Entry: Below $8.70 (after a break of current support)

Stop Loss: $9.10 (above recent resistance)

Targets:

1. Target 1: $8.50 (Support level 2)

2. Target 2: $8.20

3. Target 3: $8.00 (potential strong support zone)

If the price breaks above resistance, you may consider going long, with potential targets:

Target 1 (for Long Position): $9.00

Target 2: $9.20

Target 3: $9.40

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