ATOM is currently bouncing from a strong support zone

1. Technical Overview:
Strong Support Zone: ATOM is currently bouncing from a strong support zone around 4.1 - 4.5 USDT (highlighted in the blue area below). This has been a key accumulation zone since 2019-2020.

Elliott Wave Structure:

The first (1)-(2)-(3)-(4)-(5) wave sequence projects towards the 14-17 USDT range (by around 2026).

Followed by an ABC corrective wave towards approximately 8-10 USDT.

Then, a larger bullish impulse targeting 45-46 USDT (major wave (5) around 2028).

Ichimoku Cloud:

Price is still below the Ichimoku Cloud on the weekly chart (bearish bias on the long-term).

However, price is testing a key bottom and showing accumulation signs at this support.

2. Long-Term ATOM Trading Strategy
Primary Scenario (Bullish Bias):
Entry Zone: Buy around the current level at 4.5 - 5.0 USDT (current price is ~4.67 USDT).

Stop Loss: Below 3.8 - 4.0 USDT (below the key support).

Take Profits based on Elliott Waves:

TP1: 9 - 10 USDT (completion of mini wave (1)).

TP2: 14 - 17 USDT (completion of mini wave (5) in 2026).

TP3: 22 USDT (major wave (3) target).

Final TP: 45 USDT (completion of major wave (5) projected around 2028).

Alternative Scenario (Bearish):
If the price breaks below 3.8 USDT, the next potential bottom could be around 2.5 - 3.0 USDT (historical lows).

3. Supporting Factors:
Long-term Accumulation: The 4.5 USDT level has acted as a strong base for multiple years.

Volume: Volume is starting to rise slightly at these lower levels, signaling accumulation.

Cycle Data: The Elliott Wave suggests a potential for a strong multi-year bull cycle (2025-2028).

4. Notes:
The chart is using Heikin Ashi candles, which smooth out the trend compared to regular candlesticks.

This is a multi-year strategy, ideal for mid to long-term investors.