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

🔍 Technical summary:

The weekly index EMA is forming the base of the rising triangle; 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 4.33–4.40 resistance band is strong; if a breakout occurs, there may be a reaction buying.

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

📈 Macro effects:

While BTC is trading around ~$105k, volatility is increasing across the crypto markets under geopolitical risk.

Volume in ATOM has decreased; attention needs to be paid to the direction of the breakout and the strength of the volume.

🧭 Tracking signals:

If the weekly close occurs above the EMA, the formation remains valid and the 4.33–4.50 band can be targeted.

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

This is not investment advice.

#ATOM #Cosmos #BTC #ETH #Crypto