Cosmos (ATOM) has maintained a lot bullish sentiment topping the charts within the crypto house; regardless of pullbacks throughout the market, Cosmos (ATOM) would get better with good quantity and rally increased. The value has been confronted with resistance on the weekly chart and has proven weak spot as a lot doubt units in if the worth can reclaim the worth of $20. (Data from Binance)
Cosmos (ATOM) Token Price Analysis On The Weekly Chart
ATOM noticed a decline in its value from $45 to round $6, with an over 70% drop from its all-time excessive regardless of having good fundamentals. The value of ATOM bounced off after touching a weekly low of $6, and the worth rallied to $17, exhibiting some nice energy.
The value of ATOM on the weekly chart confirmed nice energy rallying to $17 with sturdy quantity, however the value was confronted with main resistance at $17 on the weekly chart. ATOM did not flip this weekly resistance into help as the worth has maintained a decline however above its bullish trendline help.
For the worth of ATOM to pattern increased value must flip the weekly resistance into help and shut above $17; if the worth of ATOM fails to rally again to this area, we might see the worth of ATOM retesting its help of $12.
The value of ATOM might retest its weekly help of $12, which is a wholesome retracement. So far, the help of that area holds the worth of ATOM from sell-off, and this may be zone for extra purchase orders, and a attainable bounce as the worth goals to take care of its bullish sentiment. If the worth of ATOM fails to carry $12 help, we might see the worth going to a low of $8.
Weekly resistance for the worth of ATOM – $17.
Weekly help for the worth of ATOM – $12.
Price Analysis Of ATOM On The Daily (1D) Chart
The day by day timeframe for ATOM costs continues to most important the bullish construction it has fashioned as the worth respects the trendline support holding up properly regardless of seeing extra promote quantity.
ATOM’s value wants to carry above this trendline help for the worth to bounce and pattern increased, but when the worth of ATOM fails to carry, we might see the worth of ATOM going to a day by day low of $12.5.
On the day by day timeframe, the worth of ATOM is at the moment buying and selling at $13.56, holding above the 50 Exponential Moving Average (EMA), performing as help for ATOM value. The value of $12.5 corresponds to the help at 50 EMA, performing as space for extra demand for the worth of ATOM; if the help at 50 EMA fails, we might see the worth going to $9.
The Relative Strength Index (RSI) for ATOM is above 50 on the day by day chart, indicating low purchase order quantity.
Daily resistance for the ATOM value – $15.
Daily help for the ATOM value – $12.5-$9.
Featured Image From zipmex, Charts From Tradingview 
