⚓️ The Israel-Iran tension is affecting all assets: An ascending triangle formation was being observed in #ATOM, but if the weekly close stays below the blue line (20-week EMA), the formation could become invalid. Currently, $ATOM is at ~$4.08 and was rejected at the $4.33 resistance during the day.

🔍 Technical summary:

The weekly index EMA is forming a rising triangle base; if this line is not breached, the formation may be disrupted.

A close below the 20-week EMA increases the likelihood of a short-term decline.

The resistance band at 4.33–4.40 is strong; if a breakout occurs, a reaction purchase may come.

Otherwise, supports may loosen to 4.05–4.00 and critically to 3.90–3.85.

📈 Macro effects:

As BTC hovers around the ~$105k level, volatility is increasing across the cryptocurrency markets under geopolitical risk.

The volume on ATOM has decreased; it is necessary to pay attention to the direction of the breakout and the strength of the volume.

🧭 Tracking signals:

If the weekly close occurs above the EMA, the formation retains its validity and the 4.33–4.50 range can be targeted.

A close below the EMA indicates the cancellation of the formation and could potentially open up to the support levels of 3.90–3.85, or even 3.50–3.40.

This is not investment advice.

#ATOM # Cosmos #BTC # ETH #Crypto