ATOM price has been in a downward trend and has corrected by over 50% in the last three months. It is currently trading close to its 52-week low trajectory of $3.50. The $5 mark could indicate the next trend reversal. Bitcoin and the general crypto market have experienced mild gains and remained positive, but ATOM price has struggled to regain positive momentum. The daily chart suggests a potential bullish reversal pattern, but a break and close above $5 is needed to validate the buying strength. Despite the ongoing downtrend, some technical indicators show the possibility of a trend reversal, including a positive Chaikin Money Flow (CMF) reading and the Awesome Oscillator (AO) crossing the zero line. The futures market data also hints at a bullish sentiment among investors. The immediate support zones are $4 and $3.80, while the immediate resistance levels are around $4.70 and $5.
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