The cryptocurrency market is experiencing notable turbulence, with Cosmos (ATOM) recently breaking below a significant long-term triangle pattern. This development has raised concerns among traders, who are now closely watching key support levels to gauge the potential for further declines. Experts in the publication emphasize that understanding these patterns is crucial for making informed trading decisions.
Market Dynamics Shift
The breakdown of the triangle pattern signals a shift in market dynamics, indicating that sellers are currently in control. Analysts suggest that if the price fails to hold above the critical 300 zone, ATOM could face deeper declines, potentially targeting levels around:
- 250
- 160
Traders' Advisory
Traders are advised to remain vigilant as the market sentiment continues to evolve.
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