I just noticed that ATOM is approaching a critical turning point on the chart after breaking out of a long-lasting downtrend pattern. The current price is $1.95. Although the past 24 hours saw a decline of 3.41%, the trading volume has increased, which is an interesting sign. Compared with btc’s price movement and other coins, ATOM appears to have its own momentum.

What’s appealing is that the top 100 addresses are still increasing their holdings, suggesting that market participants are still looking for opportunities. Technical indicators suggest that if the daily candle closes above $1.77, we may see further upside. Most traders seem to be betting on long positions in the $1.61 to $1.78 range.

However, the reality is that the ADX is still low, meaning the momentum is not strong enough yet. We’ll need to keep an eye on whether ATOM can maintain the support level. In the short term, price movement may stay within $1.61 to $1.98 depending on market conditions.