Technical analysis by weslad about Symbol ATOM on 6/15/2025

ATOM/USDT is currently consolidating within a long-term descending structure, hovering just above a critical demand confluence between $3.42 and $4.10. This area marks the Immediate Demand Zone, where buyers have historically stepped in, and price action is once again testing its resilience after multiple touches. A decisive breakout above the $5.47 resistance level, which aligns with the descending trendline from the macro highs, would validate a bullish reversal structure. This could open the path for a multi-leg rally targeting $11.36 in the medium term and $31.09 in the long term, corresponding with historical supply and Fibonacci extension zones.However, failure to hold the current support zone could accelerate a move toward the deeper Extreme External Demand Zone between $2.15 and $2.590.The current consolidation carries the potential for both structural reversal and final flush out, and we should closely monitor price behavior around $5.47 for confirmation of directional bias.