TA- Cosmos Could Be Set For A Wild Rally Ahead Of Crucial Breakout

Cosmos’ (ATOM) price could set the stage for an explosive rally, with Tether (USDT), possibly breaking out against it (Positive Breakout) before any summer relief for altcoins. 

Before merge sentiments, the Ethereum price rebounded from $1600 to $1800. This was before other altcoins, such as Cosmos, burst in price. Data feeds from Binance

ATOM Weekly Chart Price Analysis

Source : ATOMUSDT on Tradingview.com| Source: ATOMUSDT On Tradingview.com

As you can see, ATOM prices fell to around $6.5 each week. They rebounded and rose to $11.3.

As it meets resistance at $17, the price is gaining more momentum.

The price of ATOM could soon reach the $17 mark if it continues to follow this bullish structure on its weekly chart.

AtOM is currently at an all-time high because of the volume.

Weekly resistance for the price of ATOM – $17.

Weekly support for the price of ATOM – $6.5.

ATOM Price Analysis on the Daily (1D), Chart

Source: ATOMUSDT on Tradingview.com| Source: ATOMUSDT On Tradingview.com

ATOM’s price found support around $6.2, and there seems to be an area for interest on the daily charts.

ATOM broke from support. This formed a bullish trendline, which acts as support. It has maintained this structure for the past year. 

ATOM’s price is currently at $12. It trades above the 50 exponentially moving averages (EMA) which corresponds with the support level at $10. 

Should the 50 EMA area fail to maintain the price, then $9 could be a strong support. This would allow for sell-offs to continue and allow for a price rebound.

If there were more buy offers, the ATOM price could rise to $16-17, which is the resistance seen on the daily charts.

On the daily chart, 65 is the RSI of ATOM Price. This indicates that there are healthy bids to buy ATOM.

ATOM volumes look good. This indicates positive trends for ATOM price rises.


Daily (1D) resistance for ATOM price – $17.

Daily (1D) support for ATOM price – $10, $9.

ATOM Price Analysis on the Four-Hourly Chart (4H)

Source: ATOMUSDT on Tradingview.com| Source: ATOMUSDT On Tradingview.com

ATOM’s price has broken out of a symmetric triangle in the 4H chart. The price closed above that.

ATOM’s performance in the region has been poor. They have formed a three-dimensional range with prices rejecting starting at $11.5.

ATOM price is $12, trading above the 50 & 200 EMA with prices of $10.7 and $10 on the 4H chart. These would be support areas for ATOM in the 4H chart.


Four Hourly (4H) resistance for ATOM price – $16.

Four hourly (4h) support for ATOM price – $10.7, $10.


Breaking below these support areas could cause ATOM’s price to drop to $9. This is a strong support area.

Featured image taken from NewsBTC. Charts from TradingView.com 

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