$ATOM /USDT

The chart displays the price movement and volume of a cryptocurrency on the Binance platform, with the 4-hour timeframe selected. The chart includes three moving averages (MA): MA(7) in yellow, MA(25) in pink, and MA(99) in purple. The latest price point is at 6.746, with the 7-day MA at 6.805, the 25-day MA at 6.812, and the 99-day MA at 7.438.

The price has faced a significant downtrend, hitting a low of 6.202, followed by a partial recovery reaching up to 7.252 before continuing to consolidate below the moving averages. The resistance levels to watch are the 25-day MA at 6.812 and the 99-day MA at 7.438. A breakthrough above these levels could signal a bullish trend reversal.

The volume indicator shows a spike corresponding to the price drop, indicating high selling pressure. However, recent volume bars suggest reduced activity, which might be a consolidation phase.

Given the current trend, traders should watch for a potential support level around the 6.202 mark. A fall below this could indicate further downside. Conversely, surpassing the immediate resistances could pave the way for a more bullish outlook.

Overall, closely monitoring these support and resistance levels, along with volume changes, is crucial for making informed trading decisions in this volatile market.#BinanceTournament #Megadrop #CryptoTradingGuide #MicroStrategy #CertiKvsKraken