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Cosmos (ATOM) struggles To Stay Bullish, Is $20 Still Possible?

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Cosmos (ATOM) struggles To Stay Bullish, Is $20 Still Possible?

Cosmos (ATOM) has maintained so much bullish sentiment topping the charts in the crypto space; despite pullbacks across the market, Cosmos (ATOM) would recover with good volume and rally higher. The price has been faced with resistance on the weekly chart and has shown weakness as much doubt sets in if the price can reclaim the price of $20. (Data from Binance)

Cosmos (ATOM) Token Price Analysis On The Weekly Chart 

Weekly ATOM Price Chart | Source: ATOMUSDT On Tradingview.com

ATOM saw a decline in its price from $45 to around $6, with an over 70% drop from its all-time high despite having good fundamentals. The price of ATOM bounced off after touching a weekly low of $6, and the price rallied to $17, showing some great strength.

The price of ATOM on the weekly chart showed great strength rallying to $17 with strong volume, but the price was faced with major resistance at $17 on the weekly chart. ATOM failed to flip this weekly resistance into support as the price has maintained a decline but above its bullish trendline support.

For the price of ATOM to trend higher price needs to flip the weekly resistance into support and close above $17; if the price of ATOM fails to rally back to this region, we could see the price of ATOM retesting its support of $12.

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The price of ATOM could retest its weekly support of $12, which is a healthy retracement. So far, the support of that region holds the price of ATOM from sell-off, and this would be a good zone for more buy orders, and a possible bounce as the price aims to maintain its bullish sentiment. If the price of ATOM fails to hold $12 support, we could see the price going to a low of $8.

Weekly resistance for the price of ATOM – $17.

Weekly support for the price of ATOM – $12.

Price Analysis Of ATOM On The Daily (1D) Chart

Daily ATOM Price Chart | Source: ATOMUSDT On Tradingview.com

The daily timeframe for ATOM prices continues to main the bullish structure it has formed as the price respects the trendline support holding up nicely despite seeing more sell volume. 

ATOM’s price needs to hold above this trendline support for the price to bounce and trend higher, but if the price of ATOM fails to hold, we could see the price of ATOM going to a daily low of $12.5.

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On the daily timeframe, the price of ATOM is currently trading at $13.56, holding above the 50 Exponential Moving Average (EMA), acting as support for ATOM price. The price of $12.5 corresponds to the support at 50 EMA, acting as a good area for more demand for the price of ATOM; if the support at 50 EMA fails, we could see the price going to $9. 

The Relative Strength Index (RSI) for ATOM is above 50 on the daily chart, indicating low buy order volume. 

Daily resistance for the ATOM price – $15.

Daily support for the ATOM price – $12.5-$9.

Featured Image From zipmex, Charts From Tradingview 
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Cosmos Hub Soars Over 5% Within 24 Hours – ATOM Up 13% In Last Week

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Cosmos Hub Soars Over 5% Within 24 Hours – ATOM Up 13% In Last Week

Cosmos (ATOM) coin buyers have clasped on the $10 level as its support zone.

  • Cosmos (ATOM) coin soars by over 5% as seen in the past 24 hours.
  • ATOM still fluctuates wildly as observed in the upwards parallel channel.
  • Coin’s price has made impressive traction and surged by 13% in the past week.

According to CoinMarketCap, ATOM is having a sweeping uptrend at $12.09 or an impressive spike of 4.46% as of this writing. Currently, ATOM’s ATH is set at $44.45 which means the bulls have to work a bit harder than usual to push the price further up.

ATOM’s Trading Volume Spikes 102.0% In Past Week

The daily chart shows the volatility and price movement for Cosmos Hub (ATOM). Currently, ATOM’s trading volume has spiked by 102.0% as seen in the past week. The total circulating supply or volume of ATOM has however dropped by 0.27%. As of now, ATOM ranks as the 28th largest crypto in terms of the market cap which is currently at $3.47 billion.

It seems the bears moved away from ATOM as the bulls continue to drive the price higher. Cosmos Hub has had an impressive rally seen in the past couple of weeks due to aggressive buying pressure. ATOM coin is seen to be consistently moving upwards for the past few weeks. More so, the bulls were also re-energized after they revisited the coin’s support line.

In the event that the buyers breach ATOM’s resistance zone, the buyers are optimistic about a 60% ROI in the coming days. Buyers are definitely pushing the price up with $10 poised as the support zone and the $12.5 level as the bullish hurdle.

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Cosmos: $20 On Target

Buyers are constantly eyeing the next resistance zone as a breach on this level may propel the asset’s price to an uptick peaking at $20.

ATOM’s market cap has spiked by 4.8% overnight or registered at $3.4 billion. The increase in trading volume also hints at the surge of buying momentum. ATOM’s RSI also shows that it was able to break the falling trendline and near the oversold mark. Moreover, the coin’s MACD also indicates a bullish movement for ATOM.

Buyers are looking forwards to the bulls breaching and hovering above the resistance zone of $12.5. Despite the hurdles that the bulls face, buyers are positive that a 60% spike is possible from the current level and may in fact pump the price to $20.

ATOM total market cap at $3.35 billion on the daily chart | Source: TradingView.com    Featured image from CoinCentral, Chart from TradingView.com
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ATOM ANALYSIS

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

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

The price of Cosmos (ATOM) could be set for a wild rally with a potential breakout against Tether (USDT) ahead of summer relief for altcoins. 

Ethereum price saw a relief bounce from $1,600 to $1,800 ahead of merge sentiments leading to other altcoins like Cosmos breaking out in price. (Data feeds from Binance)

Price Analysis Of ATOM On The Weekly Chart

Weekly Price Chart Analysis For ATOM | Source: ATOMUSDT On Tradingview.com

From the chart, the price of ATOM saw a weekly low of around $6.5, which bounced from that range and rallied to $11.3.

The price has built more momentum as it faces resistance at $17.

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If the price of ATOM on the weekly chart continues with this bullish structure, it could quickly hit the $17 mark.

The volume shows decent buy bids, pushing the price of ATOM higher.

Weekly resistance for the price of ATOM – $17.

Weekly support for the price of ATOM – $6.5.

Price Analysis Of ATOM On The Daily (1D) Chart

Daily Price Chart Analysis For ATOM | Source: ATOMUSDT On Tradingview.com

The price of ATOM found strong support at around $6.2, with what seems to be an area of interest on the daily chart.

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ATOM bounced from its support, forming a bullish trendline that acts as a support and has continued to maintain this structure. 

At the point of writing, the price of ATOM is at $12, trading above the 50 exponential moving averages (EMA), which corresponds to the support at $10. 

If the 50 EMA region fails to hold the price, $9 would be a good support to hold sell-offs and for a possible price bounce.

With more buy bids, we could see the price of ATOM retesting at $16 -$17, which has been resistance on the daily chart.

The RSI for ATOM price on the daily chart is 65, indicating healthy buy bids for ATOM.

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The volume for ATOM looks good, indicating positive signs for ATOM prices to trend higher.

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

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

Price Analysis Of ATOM On The Four-Hourly (4H) Chart

Four-Hourly Chart Analysis For ATOM | Source: ATOMUSDT On Tradingview.com

The price of ATOM has shown a bullish breakout from a symmetric triangle on the 4H chart, with the price closing above it.

ATOM has struggled in this region, forming a range in a triangle with price rejecting from $11.5.

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

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

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

A break below these support zones could send the price of ATOM to a region of $9, acting as a good support area.

Featured image from NewsBTC, Charts from TradingView.com 
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