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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 point as a lot doubt units in if the value can reclaim the value of $20. (Data from Binance)

Cosmos (ATOM) Token Price Analysis 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 energy.

The worth of ATOM on the weekly chart confirmed nice energy rallying to $17 with sturdy 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 pattern greater 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 may see the value of ATOM retesting its help of $12.

The worth of ATOM may retest its weekly help of $12, which is a wholesome retracement. So far, the help of that area holds the value of ATOM from sell-off, and this may be a great zone for extra purchase orders, and a doable bounce as the value goals to keep up its bullish sentiment. If the value of ATOM fails to carry $12 help, we may 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.

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

The each day timeframe for ATOM costs continues to foremost the bullish construction it has shaped as the value 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 value to bounce and pattern greater, but when the value of ATOM fails to carry, we may see the value of ATOM going to a each day low of $12.5.

On the each day timeframe, the value of ATOM is at the moment buying and selling at $13.56, holding above the 50 Exponential Moving Average (EMA), performing as help for ATOM worth. The worth of $12.5 corresponds to the help at 50 EMA, performing as a great space for extra demand for the value of ATOM; if the help at 50 EMA fails, we may see the value going to $9. 

The Relative Strength Index (RSI) for ATOM is above 50 on the each day chart, indicating low purchase order quantity. 

Daily resistance for the ATOM worth – $15.

Daily help for the ATOM worth – $12.5-$9.

Featured Image From zipmex, Charts From Tradingview