Digital Currency Analyzer: A downtrend can help Atrium

Although some analysts are still feeling positive about the market and whales are accumulating more digital currencies, there are indications on the Atrium / Bitcoin exchange rate chart that the Atrium market could collapse if it does.

According to the Daily Hoodel, a digital currency market analyst recently warned of the potential danger that threatens the Atrium and Altcoin markets.

Nicholas Merten, in a new video on his YouTube channel called DataDash, told his 511,000 followers that despite recent problems, the market still trusts the Atrium / Bitcoin trading couple.

He said:

Atrium is currently experiencing a new decline, but so far we have managed to maintain the trend that we started in June and every time higher floors were created. In addition, the price fluctuates in a certain channel for some time. This shows the presence of trust in the market.

Merton added:

Now that we understand this, we must say that we have had very difficult downward adjustments since September 2021. This pair is reaching a very critical point. If in the most pessimistic case we fall below 0.06 in the Atrium / Bitcoin market (we are currently at 0.066) on the chart, or in other words, we have a 10% drop in price, it shows that the market is ready for a long-term downturn trend.

Atrium / Bitcoin performance chart in weekly view
Atrium vs. Bitcoin price chart in weekly market view.

Merton went on to explain that while he believes digital currencies will disrupt and affect financial markets over the next decade, that doesn’t mean Atrium prices won’t fall again before reaching their all-time high.

Merton continued.

Falling below 0.06 in the Atrium / Bitcoin market can be a really big price warning. This will not only lead to the failure of the support line that we really want to keep and keep the price high, but it will also prevent the price from finding basic support at lower levels and as a result the adjustment may deepen.

Digital Currency Analyst’s publication: Decline could hurt Atrium first appeared in Digital Currency.

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