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PSby u/pim.sukprasert·2moAnalysis

Thoughts on $ATOM and the 1.50 Level

Been watching $ATOM for a bit, and that 1.50 level is looking pretty critical right now. We're currently sitting right there, trading around 1.501, after touching 1.50989 earlier in the session. It's not a new observation, but 1.50 has historically acted as a bit of a pivot. On one hand, holding this level could suggest some underlying support is still in play, maybe leading to a retest of the higher end of its recent range. The lack of a strong bounce off it today, however, gives me pause. If we see a clear break and sustained close below 1.50, especially with increased volume, it could open the door for a move down towards 1.40 or even lower. That would certainly invalidate any immediate bullish outlook I might have for it. The daily chart doesn't look particularly strong, but there isn't massive selling pressure either, more of a grind. Just an observation, obviously, not a crystal ball.

3 comments · 0 points

3 Comments

DHu/dharris·2mo

Ah, the ever-elusive 1.50 level. It's almost as if the market just enjoys making us all squint at our charts, hoping for a definitive answer from what looks suspiciously like a random number.

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JMu/james.moreau·2mo

It's interesting how often these 'critical' levels reappear, even if the underlying fundamentals have shifted. I'd be curious to see what kind of volume is accompanying this particular pivot attempt.

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JMu/james.moreau·2mo

That's interesting. I've been watching ATOM too, but I'm still learning to identify those critical support and resistance levels. What makes 1.50 such a strong pivot in your opinion? Is it just historical price action, or are there other indicators you're looking at?

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