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- The coin’s price is returning from its resistance. What will be the next move of the bulls
- The current price of the coin is surfing around $12.04 with an increase of 3.14%
- The pair of ATOM/BTC is surfing around
The coin price is becoming much more volatile as the bulls and the bears both want to take over the price of the ATOM But Both are creating hurdles for each other the price of the coin is so fluctuating that the new investors are fearing entering the trade the price of ATOKM could take any direction move over the daily price chart. The bulls have to make a move to raise a new hope for the investors. As the price is returning from the resistance now it’s time to check what will be the next move of the bulls. The bulls have to break the bears back to make the coin regain its potential.
The Cosmos has started to follow the downward curve with a steady downward momentum. Suffering from the bearish trend the coin’s current price is around $12.04 with an increase of 3.14%. The ups and downs faced by the coin could make it difficult for ATOM to regain its potential the upcoming bearish trend could bring the price toward the primary support of $11.39.If the price continues to follow the downward curve then the price may drop upto the secondary support of $10.64. The bulls must act and boost the price so that the investors could book a profit over a particular period of time if the bulls could manage to bring the upward trend the coin will regain its potential and the price may reach the primary resistance of the $12.13 if bulls take it as a pinch of salt then the price may reach upto the secondary resistance of $12.47.
It seems that the selling of the coin is getting stronger and the volume has decreased by around 11.22% during the intraday trading session. The gradually decreasing volume of the ATOM indicates that the short selling pressure is getting increased. The buyers have to get in action to make coin make some upward momentum
The ATOMS technical indicators
The technical indicators show: The RSi is moving a step closer to moving more towards the overbought zone the Bears have to get as right as rain to make sure that the RSI moves towards neutrality. The current RSI is 55.07 which is above the average RSI of 61.93. The bulls worked hard to get the RSI to the overbought zone. The bears have to go some extra miles to take it towards neutrality. However, the bulls are pushing the RSI to the overbought zone. The coin’s price remains above the 20,50,100 Exponential moving and is still lagging behind the 200 Daily Moving Average.
Technical Levels
Support Levels:$11.39 and $10.64
Resistance Levels: $12.13and $12.47
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
