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• ATOM worth breaks downtrend as worth gears up for a short-term restoration creating extra bullish sentiment.
• ATOM seems robust on the low timeframe. 
• The worth of ATOM breaks and holds above 8 and 20 EMA.

Cosmos (ATOM) confirmed a lot power as worth traits for days, with many turning into as to why Cosmos (ATOM) traits in opposition to tether (USDT) in such market circumstances. With the worth of Bitcoin (BTC) exhibiting some nice momentum, we may see the worth of altcoins, together with ATOM, transfer simply because it eyes a rally to $14. (Data from Binance)

Crypto Market Outlook 

The new month has been extra of a reduction for many crypto tasks as altcoins, together with the likes of ATOM, present bullish power, with the worth of BTC main the market rallying from a low of $18,800 to $20,100. With the market trying extra promising for crypto property, we may see extra restoration from cryptocurrencies because the earlier month has prevented main altcoins from a rally.

Cosmos (ATOM) Price Analysis On The Weekly Chart

The worth of ATOM in current weeks confirmed a lot power as worth rallied from a weekly low of $6 to a excessive of $17 with so many good points as the worth topped the crypto chart for weeks exhibiting no signal of weak point. 

ATOM’s worth confronted rejection because it was unable to interrupt above $17.5, performing as resistance to the worth of ATOM and the realm of provide.

The worth tried a number of instances to flip this resistance space into assist to rally greater to a area of $20, however the worth was rejected attributable to extra promote orders in that area. ATOM’s worth dropped to a low of $12, performing as assist space for the worth in case of a sell-off.

The worth of ATOM continued to vary on this area of $12 earlier than having a weekly shut, with the worth trying extra bullish for the week because it goals a restoration to $14

ATOM’s worth wants to carry above $13 for the worth to have an opportunity to pattern greater to the anticipated $14. If the worth of ATOM fails to carry at $13, we may see the worth retesting the area of $12. But if ATOM traits to $14 and flips it into assist, we may retest the area of $17, performing as a provide space for ATOM worth.

Weekly resistance for the worth of ATOM – $14.

Weekly assist for the worth of ATOM – $12.5-$12.

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

The worth of ATOM on the each day timeframe continues to look bullish as the worth kinds a descending triangle and breaks out of it with good quantity.

ATOM’s worth is presently buying and selling at $13.90 as the worth broke out of the descending triangle and trades barely beneath the 8 and 20-day Exponential Moving common (EMA), performing as resistance zones for the worth of ATOM. The worth at $12.9 and $13.4 corresponds to the 8 and 20-day EMA for ATOM. 

Daily resistance for the ATOM worth – $13.4-$14.

Daily assist for the ATOM worth – $12.5.

Featured Image From zipmex, Charts From Tradingview and Coin360