- ATOM’s value reveals 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 worth creates extra bullish bias by breaking out of a downtrend descending triangle with eyes set on rallying greater.
- ATOM’s value stays robust on the each day timeframe above the 50 Exponential Transferring Common (EMA) as the worth goals for extra rallies.
The worth motion displayed by Cosmos (ATOM) has been super as the worth resisted the bears rallying from a area of $12.7 to a excessive of $14, reclaiming a significant assist space it has constructed previously few weeks. The crypto market is wanting more and more welcoming as many altcoins proceed producing over 50% good points. The likes of DOGE have seen some nice runs lately, rallying from a low of $0.055 to a excessive of $0.15, with many others as Cosmos (ATOM) continues to guide the cost for extra value recoveries. (Information from Binance)
Cosmos (ATOM) Worth Evaluation On The Weekly Chart
Cosmos (ATOM) has struggled to regain its bullish momentum in latest occasions; regardless of the uncertainty that has befallen the crypto area, the worth of ATOM has loved a measure of aid after displaying 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 greater.
The previous weeks have been nothing wanting a boring and troublesome second for the crypto market as this affected the worth 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 appeared stronger as the worth of ATOM equipped for extra upside value strikes.; the worth has confronted a minor rejection to interrupt greater to a area of $17.
Weekly resistance for the worth of ATOM – $17.
Weekly assist for the worth of ATOM – $13.5.
Worth Evaluation Of ATOM On The Each day (1D) Chart
Within the each day timeframe, the worth of ATOM continued to look robust as the worth 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. Nonetheless, the worth of ATOM faces somewhat rejection; the worth of ATOM wants to interrupt and maintain above $14.5 for the worth to change into extra bullish as soon as extra.
The worth 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 worth of ATOM to a area of $17 and probably a retest of $20 area performing as a provide zone.
Each day resistance for the ATOM value – $14.5.
Each day assist for the ATOM value – $13.5.
Featured Picture From Blockchain Information, Charts From Tradingview