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• ATOM’s worth exhibits power as worth bounces off from a weekly low of $8.5 giving bulls some reduction. 
• ATOM’s worth continues to look bearish as extra sentiment for the market lingers, with issues wanting unsure for many merchants and traders. 
• ATOM’s worth rallies excessive on the day by day timeframe as the worth strikes towards the 50 Exponential Moving Averages (EMA) worth, wanting much less prone to break increased.

The worth motion displayed by Cosmos (ATOM) lately hasn’t been motivating after costs declined from a area of $27 to a weekly low of $8.5. With many in search of a serious dump in Bitcoin (BTC) worth, the worth of Bitcoin (BTC) bounced from $15,500 as worth rallied to a excessive of $16,500, leaving bears on the sidelines as the worth of Comos (ATOM) positive factors some reduction bounces to carry robust above key help. The worth motion displayed by Cosmos (ATOM) and lots of altcoins lately have been problematic as many altcoins battle for survival. The Domino impact of the FTX saga and different enormous traders concerned has left the market at a standstill because the market is but to make a serious transfer after earlier weeks. (Data from Binance)

Cosmos (ATOM) Price Analysis On The Weekly Chart

Most crypto merchants and traders have had a tough few days, with many involved about the place the market is headed after a lot turbulence within the crypto area. Many altcoins have struggled to point out power, shedding key help in a bid to outlive.

The present market uncertainty has induced merchants and traders to be hesitant to buy altcoins, as there isn’t any assure that they are going to rise in worth any time quickly.

The worth of ATOM on the weekly chart has struggled regardless of the market uncertainty that has affected main crypto tasks which have continued to construct on this bear market, and extra FUD (worry of uncertainty and doubt) persists. ATOM noticed its worth traded in a area of $17 on the weekly chart, however the worth was rejected as ATOM’s worth declined to a area of $8.5, bouncing off this area to commerce at $9.5 with a small reduction from the market.  

Weekly resistance for the worth of ATOM – $10.

Weekly help for the worth of ATOM – $8.5.

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

The worth of ATOM stays significantly weak within the day by day timeframe as the worth trades above $8.5 help after the worth was rejected from a excessive of $17.

ATOM’s worth trades at $9.8 under its 50 and 200 EMA, appearing as resistance for the worth of ATOM. The worth of $11.5 and $13.8 corresponds to the costs at these ranges, appearing as resistance. 

If the worth of ATOM breaks and holds above $11.5, we might see extra rallies for the ATOM worth to a area of $13; a break under a area of $8.5 would ship the worth again to a area of $5. 

Daily resistance for the ATOM worth – $11.5.

Daily help for the ATOM worth – $8.5-$6.

Featured Image From zipmex, Charts From Tradingview