Possibility to lower Atrium prices after delaying the transfer of proof of availability



Late last week, Atrium Foundation member Tim Baiko announced that the Atrium network mechanism would not be moved from proof-of-work to stock-proof in June, leading to a drop in Atrium prices. Some believe that further delays in finalizing the upgrade may still have a negative impact on Atrium prices.

Atrium prices now seem to be above the most important support in their trend, according to Kevin Briefing. The world’s second-largest digital currency has lost about 18 percent of its value in the past two weeks, and its decline deepened after the Bico team announced that the upgrade of the digital currency network will be postponed. The exact date of the transfer of Atrium to stock proof has not yet been determined, but members of the digital currency community have long believed that June 2022 (June) will be the time to implement it.

Biko wrote on Twitter on Tuesday:

The atrium will not be upgraded in June, but will likely take place a few months later. The exact date is not yet known, but the mechanism for proving the current work has certainly reached its last days.

The Atrium network has always been known for its slow pace of development. Atrium developers have been planning to upgrade for several years; As Vitalik Butrin, co-founder of this digital currency, initially said that this upgrade would be ready in 2016. On the other hand, further delays in finalizing this upgrade could still affect the price of the Atrium.

For the past five days, the price of the Atrium has been using its 50-day moving average (MA 50 – yellow image line) as support. Although demand for this digital currency has always grown in the region, increasing pressure on sales at current levels could have dire consequences for the market. If Atrium loses its $ 3,000 support, its price could drop to about $ 2,400.

Possibility to lower Atrium prices after delaying the transfer of proof of availability
Atrium price chart in dollars for 1 day.

Although technical analysis shows that Atrium will fall if $ 3,000 support fails, there are many fundamental factors that increase the price of this digital currency. For example, more than 11.5 million atriums are currently invested in the Atrium 2.0 deposit agreement, and more than 2.1 million atriums have been burned so far during the EIP 1559 token project. The Atrium Digital Currency Exchange has reached its lowest four-year level of 20.6 million units.

Read also: What is Atrium 2.0? Everything you need to know

Such data show that Atrium’s sales pressure and potential supply have been significantly reduced. If one of Atrium’s daily candlesticks closes above the 200-day moving average (MA 200 – red line of the chart) at $ 3500, the price of this digital currency may rise again, making Atrium 4 the first target. It will be $ 120.

The publication Possibility to lower the prices of Atrium after the delay of the transfer to the proof of stock appeared for the first time in Digital Currency.

Leave Your Comment

Your email address will not be published.

Supportscreen tag