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 worth has been confronted with resistance on the weekly chart and has proven weak point as a lot doubt units in if the value can reclaim the value of $20. (Information from Binance)
Cosmos (ATOM) Token Worth Evaluation On The Weekly Chart
ATOM noticed a decline in its worth 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 value rallied to $17, displaying some nice power.
The worth of ATOM on the weekly chart confirmed nice power rallying to $17 with sturdy quantity, however the worth was confronted with main resistance at $17 on the weekly chart. ATOM did not flip this weekly resistance into assist as the value has maintained a decline however above its bullish trendline assist.
For the value of ATOM to development increased worth must flip the weekly resistance into assist and shut above $17; if the value of ATOM fails to rally again to this area, we may see the value of ATOM retesting its assist of $12.
The worth of ATOM may retest its weekly assist of $12, which is a wholesome retracement. To date, the assist of that area holds the value of ATOM from sell-off, and this might be a superb zone for extra purchase orders, and a doable bounce as the value goals to take care of its bullish sentiment. If the value of ATOM fails to carry $12 assist, we may see the value going to a low of $8.
Weekly resistance for the value of ATOM – $17.
Weekly assist for the value of ATOM – $12.
Worth Evaluation Of ATOM On The Every day (1D) Chart
The every day timeframe for ATOM costs continues to major the bullish construction it has fashioned as the value respects the trendline assist holding up properly regardless of seeing extra promote quantity.
ATOM’s worth wants to carry above this trendline assist for the value to bounce and development increased, but when the value of ATOM fails to carry, we may see the value of ATOM going to a every day low of $12.5.
On the every day timeframe, the value of ATOM is presently buying and selling at $13.56, holding above the 50 Exponential Transferring Common (EMA), performing as assist for ATOM worth. The worth of $12.5 corresponds to the assist at 50 EMA, performing as a superb space for extra demand for the value of ATOM; if the assist at 50 EMA fails, we may see the value going to $9.
The Relative Power Index (RSI) for ATOM is above 50 on the every day chart, indicating low purchase order quantity.
Every day resistance for the ATOM worth – $15.
Every day assist for the ATOM worth – $12.5-$9.
Featured Picture From zipmex, Charts From Tradingview
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