ATOM Price Hits Resistance at $1.62, Bear Case Takes Over

ATOM's price is at a critical juncture as it faces strong resistance at $1.62, according to an analysis by Rongchai Wang.

The cryptocurrency has been rising over the past few weeks, but its momentum has stalled, and a rejection here could send ATOM back down to $1.50 or even lower.

The Bollinger Band picture is clear: price is at 84% of the band range with the upper band sitting at $1.62, which means ATOM has run into a technical wall in real-time.

The MACD histogram is flat at zero, indicating that the upside momentum engine has fully exhausted itself, and the bias is toward a sharp reversal rather than a continuation.