is currently trading within its May support level. This is of significance because the altcoin broke below the same level in the first half of June and has been struggling to reclaim this level since then.
ATOM traded at $8.98 at press time after rallying by roughly 23% from its mid-week lows. This is the second time in July that the price is retesting the same level which is no longer a support level but rather the new resistance line. It retested the same level on 7 July, after which ATOM experienced a slight bearish retracement. A strong move above the $9.2 line would likely confirm strong bullish pressure.ATOM’s money flow indicator reveals outflows in the last few days despite the upside.
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