What fundamental factors does the coin have?
🔹On Twitter, the TAC project, which connects Ethereum and Ton blockchains through corresponding EVMs, is actively promoted. It operates on Cosmos - the parent blockchain of ATOM. In the short term, this is unlikely to significantly impact the price, but in a six-month perspective, it may, especially if TON does well (for example, an active entry into the US market).
What about the technical analysis?
🔹The coin has been in a wide flat since mid-March on H4. At the same time, it is currently moving towards its lower boundary. The current sloping channel is very far away (green line on the chart). Sometimes this indicates a possible stronger slope of the price chart.
🔹According to wave analysis, the seventh wave or the third in the second three-wave series of decline is currently developing. Its potential end is at 3.73 (marked on the chart). It may become the potential end of the current movement and develop into an extension / herald another wave of decline - down to 3.33 or even a bit further. There, we also have the lower boundary of the current flat.
🔹If something extraordinarily magnificent happens to Bitcoin, and it turns around, then our first target will be the green average - EMA64 on D1. At the moment - this is 4.6, but with the decline of ATOM, this level will gradually shift downwards. More accurately, nothing can be said yet.
Current news background on the market:
➖The Fed is likely to keep the rate.
➖➕Strange things with the tariffs of countries - nothing is clear. And forecasting is also impossible.
➖Bitcoin is currently looking down. ATOM correlates well with it.
From the current levels, one can try to enter sales - immediately or from quite possible upward pullbacks. In the next couple of weeks, we should arrive at 3.33 (possibly faster, depending on Bitcoin). I wouldn't consider purchases for now.