- ATOM’s price shows strength as it bounces from a downtrend range price rallied to a high of $14 with eyes set on $17.
- ATOM may rally further if the price breaks out of a downward triangle that is forming a bullish bias. With its eyes on higher rallies, it could be more positive.
- ATOM’s price remains strong on the daily timeframe above the 50 Exponential Moving Average (EMA) as the price aims for more rallies.
Cosmos (ATOM), which has displayed a tremendous price action, has resisted bears rallying to an area of $12.7 and reached a peak of $14. This is reclaiming the vital support it has built over the last few weeks. As many altcoins keep delivering over 50% gains, the crypto market looks more welcoming. DOGE and many other altcoins have enjoyed great rallies recently. They rose from $0.055 to $0.15. Cosmos (ATOM), continues leading the charge in price recovery. Data from Binance
Prices for Cosmos, ATOM (Weekly Chart)
Cosmos (ATOM), a crypto-currency, has had a difficult time regaining its bullish momentum. Despite the uncertainty in the space, ATOM prices have enjoyed some relief. They rallied from $12.7 to $14, gaining support and then rising higher.
It has been a difficult and boring time in the crypto market these past weeks. The price of the majority of altcoins was affected negatively by this, which led to them losing their support zone. Other traders are fighting to maintain their price.
After its weekly close of above $13.5, ATOM’s price looked stronger as the price of ATOM geared up for more upside price moves.The price of ATOM has seen a slight rejection and is now in the region $17.
Weekly resistance for the price of ATOM – $17.
Weekly support for the price of ATOM – $13.5.
ATOM Price Analysis on the Daily (1D), Chart
The price of ATOM is still looking strong in the daily timeframe. It broke through its downward triangle with high volume, rising to $14, and finding support at $13.5, just $13.5 lower than its current $14.1 value. However, ATOM’s price is facing some rejection. The ATOM price must hold at least $14.5 in order to be more bullish.
ATOM’s price is likely to hold and break above 200 EMA. This would correspond to $14.5. ATOM could see a break or close to this area, which would send it to $17. There may also be a $20 retest acting as an supply zone.
Daily resistance for the ATOM price – $14.5.
Daily support for the ATOM price – $13.5.
Featured image from Blockchain News and Charts at Tradingview
