Cosmos (ATOM) struggles To Stay Bullish, Is $20 Still Possible?
Cosmos (ATOM) has maintained a lot bullish sentiment topping the charts within the crypto area; regardless of pullbacks throughout the market, Cosmos (ATOM) would get better with good quantity and rally greater. The worth has been confronted with resistance on the weekly chart and has proven weak spot 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 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 worth 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 didn’t flip this weekly resistance into help as the worth has maintained a decline however above its bullish trendline help.
For the worth of ATOM to pattern greater worth must flip the weekly resistance into help 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 help of $12.
The worth of ATOM might retest its weekly help of $12, which is a wholesome retracement. To date, the help of that area holds the worth of ATOM from sell-off, and this is able to be a great zone for extra purchase orders, and a doable bounce as the worth goals to take care of its bullish sentiment. If the worth of ATOM fails to carry $12 help, we might see the worth going to a low of $8.
Weekly resistance for the worth of ATOM – $17.
Weekly help 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 shaped as the worth respects the trendline support holding up properly regardless of seeing extra promote quantity.
ATOM’s worth wants to carry above this trendline help for the worth to bounce and pattern greater, 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 help for ATOM worth. The worth of $12.5 corresponds to the help at 50 EMA, appearing as a great space for extra demand for the worth of ATOM; if the help at 50 EMA fails, we might see the worth going to $9.
The Relative Energy Index (RSI) for ATOM is above 50 on the day by day chart, indicating low purchase order quantity.
Each day resistance for the ATOM worth – $15.
Each day help for the ATOM worth – $12.5-$9.
Featured Picture From zipmex, Charts From Tradingview
