- ATOM’s value exhibits power because it bounces from a downtrend vary value rallied to a excessive of $14 with eyes set on $17.
- ATOM may rally extra as the value creates extra bullish bias by breaking out of a downtrend descending triangle with eyes set on rallying increased.
- ATOM’s value stays robust on the day by day timeframe above the 50 Exponential Moving Average (EMA) as the value goals for extra rallies.
The value motion displayed by Cosmos (ATOM) has been super as the value resisted the bears rallying from a area of $12.7 to a excessive of $14, reclaiming a significant assist space it has constructed prior to now few weeks. The crypto market is wanting more and more welcoming as many altcoins proceed producing over 50% features. The likes of DOGE have seen some nice runs just lately, rallying from a low of $0.055 to a excessive of $0.15, with many others as Cosmos (ATOM) continues to steer the cost for extra value recoveries. (Data from Binance)
Cosmos (ATOM) Price Analysis On The Weekly Chart
Cosmos (ATOM) has struggled to regain its bullish momentum in current instances; regardless of the uncertainty that has befallen the crypto house, the value of ATOM has loved a measure of reduction after exhibiting a lot power on the weekly low, rallying from a low of $12.7 to a excessive of $14 and recapturing this area because it types key assist for extra potential to rise increased.
The previous weeks have been nothing wanting a boring and tough second for the crypto market as this affected the value of most altcoins negatively, forcing them to lose their assist zone, with others battling it to remain afloat of their value.
After its weekly shut of above $13.5, ATOM’s value seemed stronger as the value of ATOM equipped for extra upside value strikes.; the value has confronted a minor rejection to interrupt increased to a area of $17.
Weekly resistance for the value of ATOM – $17.
Weekly assist for the value of ATOM – $13.5.
Price Analysis Of ATOM On The Daily (1D) Chart
In the day by day timeframe, the value of ATOM continued to look robust as the value broke out of its descending triangle, with good quantity rallying to a excessive of $14 and forming good assist round $13.5 under its present worth of $14.1. Still, the value of ATOM faces just a little rejection; the value of ATOM wants to interrupt and maintain above $14.5 for the value to turn out to be extra bullish as soon as extra.
The value of ATOM faces a resistance to interrupt and maintain above 200 EMA, which corresponds to $14.5. A break and shut above this area may ship the value of ATOM to a area of $17 and presumably a retest of $20 area appearing as a provide zone.
Daily resistance for the ATOM value – $14.5.
Daily assist for the ATOM value – $13.5.
Featured Image From Blockchain News, Charts From Tradingview
