The ATOM/USD pairing had a fib retracement that tapped within the golden pocket ranges and a quickly ran up shortly after. We just saw another retracement on the second run to the 23.6% fib levels which could lead to another break out and potentially retesting ATH's from earlier in the year.
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I will be keeping an eye on the RSI and MACD indicators as they both show that there could be some more down side to go. However, if ATOM can show strength with volume and shoot through the previous high set on 1/1/22 I think we can actually test ATHs and enter price discovery. Updates will be coming as this progresses.
Note
So far 
ATOM is following suit and it still does not appear to be too oversold on the 4H or daily. If we see a pull back down towards $27 level and a strong bounce I really think we test ATHs.Note
Correction to comment above, I erroneously said $27 level when I meant $37 level, apologies.
@CryptoChem0000 | CryptoChemistry.io
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@CryptoChem0000 | CryptoChemistry.io
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.