ATOM is close to its peak values. ATOM has formed a new upward price channel and even broke it. At the top of the price are very large volumes, on the RSI there is a divergence.
Quite a few factors about the near correction. The minimum that can be expected is testing the upper boundary of the uptrend channel at the price level of 7-7.5, where the trend line is also located. Then the price will fly up again.
It seems more probable that the price will drop lower to the middle of the uptrend channel at the price level of 5-6. Where a new accumulation zone is formed. Where the opening of a long position can be considered. I have displayed this scenario on the chart.
Quite a few factors about the near correction. The minimum that can be expected is testing the upper boundary of the uptrend channel at the price level of 7-7.5, where the trend line is also located. Then the price will fly up again.
It seems more probable that the price will drop lower to the middle of the uptrend channel at the price level of 5-6. Where a new accumulation zone is formed. Where the opening of a long position can be considered. I have displayed this scenario on the chart.
The local entry point to open the short position looks good at the price level 7.5 after the bounce from the price level 7. We need to break the current support zone.