Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. After a patterned breakdown, ATOM rallied toward its immediate support range. Binance funding rates witnessed an uptick as they turn positive over the past day. The Open Interest marked an increase alongside a decline […]
Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.Binance funding rates witnessed an uptick as they turn positive over the past day.After attaining its all-time high in January 2022,
A rebound from its immediate support range could aid the alt in retesting the confluence of resistances in the four-hour timeframe. The bullish divergences could propel ease in selling pressure.ATOM approached its support zone, can it find a reliable rebound?The rebound from ATOM’s 20-month low in June set the foundation for a sturdy recovery on the charts. These bullish efforts aided the token in finding a spot above the 200 EMA as they flipped it to support.
With the price action approaching its immediate support range in the $11.9 zone, it could see solid near-term reversal provided it breaches the constraints of the 20 EMA. A close above this level would open buying opportunities with a target in the $13.2 range.
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