$ATOM has experienced a significant decline of -10.139% over the past 24 hours.
The 24-hour high and low are 4.48 and 4.001, respectively, indicating considerable volatility.
Currently, ATOM hovers near the lower Bollinger Band at 4.052, suggesting potential for a bounce, yet the overall downtrend remains strong.
With key support at 4.001 and resistance at 4.44, traders should be cautious.
The current macroeconomic climate, particularly inflation concerns, could further pressure prices.
Bitcoin's correlation remains undefined, yet any major moves could impact sentiment across altcoins, including ATOM.
Short-term trading strategies may be advisable given the current volatility.
Key takeaway: Monitor macroeconomic developments closely, as they could either exacerbate the downtrend or provide a catalyst for potential recovery.
