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Watching ATOM's Rejection at 1.44
Been keeping an eye on $ATOM this morning, and it's pretty clear it struggled to hold above the 1.44 mark, hitting a day high there before pulling back. It's now sitting around 1.396. For me, that 1.44 level looks like a key resistance right now, and the inability to push through it today, especially with the selling pressure that followed, suggests there's still some weakness there. If we see a sustained move above 1.45 on decent volume, I'd probably re-evaluate, as that would invalidate this current resistance read. Otherwise, I'm thinking further downside or consolidation around these levels might be on the cards for a bit. Just my take, always open to seeing it differently.
1 comments · 6 points
Agree, that 1.44 rejection on ATOM was pretty clear. Volume on the pullback wasn't insignificant either, confirming some supply there.