- ATOM struggles to interrupt $17 as the worth will get rejected.
- The value of ATOM enters the distribution part on a each day timeframe.
- ATOM’s value wants to carry the important thing help at $12 to keep up a bullish construction.
- Hidden bearish divergence resurfaces within the 4H timeframe.
Cosmos (ATOM) has been the foremost participant of the present aid bounce, with value rallying from a area of $6 to $17, with many paying a lot consideration to its ecosystem as this might show to be a significant participant additionally within the bull run. The value of Cosmos (ATOM) confirmed a lot energy, holding fairly properly towards tether (USDT) because the market continued to say no in value.
Cosmos (ATOM) Price Analysis On The Weekly Chart
Despite a decline in its value from $45 to $6, over 70% decline from its all-time excessive, the worth of ATOM confirmed nice energy as value bounced from its weekly low of $6, rallying to a excessive of $17 earlier than dealing with a rejection to interrupt above that area to larger heights.
The value of ATOM on the weekly chart appears robust regardless of seeing extra promote orders recently as the worth continues to carry. For ATOM to renew, its bullish sentiment value must rally and break above $17, as this has confirmed to be a resistance to ATOM costs.
ATOM’s value is buying and selling at $14.3 beneath its resistance; the worth of ATOM wants to carry above $12 to keep away from the worth from going decrease because of the sell-off. If the worth of ATOM holds this area, there may very well be extra perception of a rally to its resistance at $17 and probably breaking and holding above this area.
A break beneath $12 would imply retesting decrease demand zones and reluctance for bulls to step into purchase orders as there could be extra agitation for decrease costs.
For ATOM’s value to revive its bullish transfer value want to interrupt and maintain above the $17 resistance stopping the worth of ATOM from trending larger. If the worth of ATOM retains rejecting the trendline resistance, we may see the worth going decrease as there are extra promote orders than purchase orders.
Weekly resistance for the worth of ATOM – $17.
Weekly help for the worth of ATOM – $12.
Price Analysis Of ATOM On The Four-Hourly (4H) Chart
The 4H timeframe for ATOM costs continues to weaken as costs break to the draw back, as there appears to be a hidden bearish divergence suggesting the worth of ATOM may retest the help space at $13.
On the 4H timeframe, the worth of ATOM is at present buying and selling at $14.5 beneath the 50 Exponential Moving Average (EMA), appearing as resistance for ATOM value. The value of $15.2 corresponds to the resistance at 50 EMA for the worth of ATOM. The value of ATOM wants to carry the help space at $13, which corresponds to the 200 EMA.
Four-hourly resistance for the ATOM value – $15.2.
Four-hourly help for the ATOM value – $13.
Featured Image From zipmex, Charts From Tradingview 
