Cosmos (ATOM) has maintained a lot bullish sentiment topping the charts within the crypto area; regardless of pullbacks throughout the market, Cosmos (ATOM) would recuperate with good quantity and rally increased. The worth has been confronted with resistance on the weekly chart and has proven weak point as a lot doubt units in if the worth can reclaim the worth of $20. (Knowledge from Binance)
Cosmos (ATOM) Token Value Evaluation 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 worth of ATOM bounced off after touching a weekly low of $6, and the worth rallied to $17, exhibiting some nice energy.
The worth of ATOM on the weekly chart confirmed nice energy rallying to $17 with robust quantity, however the value was confronted with main resistance at $17 on the weekly chart. ATOM didn’t flip this weekly resistance into assist as the worth has maintained a decline however above its bullish trendline assist.
For the worth of ATOM to pattern increased value must flip the weekly resistance into assist 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 assist of $12.
The worth of ATOM might retest its weekly assist of $12, which is a wholesome retracement. Thus far, the assist of that area holds the worth of ATOM from sell-off, and this may be a great 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 assist, we might see the worth going to a low of $8.
Weekly resistance for the worth of ATOM – $17.
Weekly assist for the worth of ATOM – $12.
Value Evaluation Of ATOM On The Each day (1D) Chart
The day by day timeframe for ATOM costs continues to major 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 assist 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 present buying and selling at $13.56, holding above the 50 Exponential Transferring Common (EMA), appearing as assist for ATOM value. The worth of $12.5 corresponds to the assist at 50 EMA, appearing as a great space for extra demand for the worth of ATOM; if the assist at 50 EMA fails, we might see the worth going to $9.
The Relative Power Index (RSI) for ATOM is above 50 on the day by day chart, indicating low purchase order quantity.
Each day resistance for the ATOM value – $15.
Each day assist for the ATOM value – $12.5-$9.
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