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 larger. 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. (Knowledge 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, exhibiting some nice power.
The worth of ATOM on the weekly chart confirmed nice power rallying to $17 with robust quantity, however the worth was confronted with main resistance at $17 on the weekly chart. ATOM did not flip this weekly resistance into help as the value has maintained a decline however above its bullish trendline help.
For the value of ATOM to development larger worth must flip the weekly resistance into help and shut above $17; if the value of ATOM fails to rally again to this area, we might see the value of ATOM retesting its help of $12.
The worth of ATOM might retest its weekly help of $12, which is a wholesome retracement. To this point, the help of that area holds the value of ATOM from sell-off, and this is able to 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 help, we might see the value going to a low of $8.
Weekly resistance for the value of ATOM – $17.
Weekly help for the value of ATOM – $12.
Worth Evaluation Of ATOM On The Every day (1D) Chart
The each day timeframe for ATOM costs continues to major the bullish construction it has shaped as the value respects the trendline help holding up properly regardless of seeing extra promote quantity.
ATOM’s worth wants to carry above this trendline help for the value to bounce and development larger, but when the value of ATOM fails to carry, we might see the value of ATOM going to a each day low of $12.5.
On the each day timeframe, the value of ATOM is presently buying and selling at $13.56, holding above the 50 Exponential Transferring Common (EMA), appearing as help for ATOM worth. The worth of $12.5 corresponds to the help at 50 EMA, appearing as a superb space for extra demand for the value of ATOM; if the help at 50 EMA fails, we might see the value going to $9.
The Relative Energy Index (RSI) for ATOM is above 50 on the each day chart, indicating low purchase order quantity.
Every day resistance for the ATOM worth – $15.
Every day help for the ATOM worth – $12.5-$9.
Featured Picture From zipmex, Charts From Tradingview
