#ATOM has been trading within a descending channel on a daily timeframe. Throughout this formation, the price has consistently respected the trendlines. We anticipate a significant breakout due to the recent push #ATOM received from a successful retest of the channel's lower support.

If price can break above the descending resistance, supported by the liquidity at $7.660, we could witness a strong bullish move. This breakout would signal a potential trend reversal and align with our bullish outlook.

Should the current resistance hold, we might see a retest of the support zone at $5.130. This could provide the necessary rally for a breakout. You need to watch for signs of strong buying interest at this level as an indicator of a potential upward move.

If both support levels fail, #ATOMUSDT could face increased bearish pressure, leading to further declines. In this scenario, monitoring lower support zones becomes crucial to gauge the extent of the downward move.

#ATOMUSDT has retested the broken support/resistance zone on the weekly timeframe.

If the bounce is confirmed, there is a possibility of a move towards higher targets; a successful breakout of this level could strengthen the uptrend.