ATOM has broken out of the recent prolonged downtrend. The price has increased by 5.9% over the past 24 hours, compared to Bitcoin's relatively quiet movement. ATOM seems to be holding better. Trading volume has surged by 13%, indicating increased interest.



From the daily chart, if ATOM closes above $1.77, there could be a further jump of 15% to $1.98. Currently, the price is at $1.96, close to this level. If it breaks above, it could surge to $2.40. However, the ADX indicator has decreased to 16.16, below the 25 threshold, suggesting that the momentum is still weak.

Data from Nansen shows that the top 100 addresses have increased their holdings by 3% in a short period. Most traders seem to be betting on further gains. Open interest has increased by 3.57% to $124.82 million, indicating growing confidence. But caution is advised at the $1.61 level below. If the price drops below this, it may be a false move instead.
ATOM4.33%
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