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- 1 Cosmos price prediction is bullish and suggests more upward momentum is pending.
- 2 ATOM price sustains above the 50-day EMA and approaches the 200-day EMA.
- 3 Cosmos crypto price recovered approximately 32% from the yearly lows.
Cosmos price prediction is bullish for the long term and suggests a significant rise in the value is possible. ATOM price showed a surprising recovery of 32% from the yearly lows and formed a bullish reversal pattern.
ATOM price managed to climb above the 50-day EMA showcasing that the short-term trend has reversed upward.
The crypto price is now approaching the 200-day EMA which might act as an immediate hurdle for the bulls. If the bulls succeed, then the possibility of reaching $10.00 will increase.
Cosmos price formed a double bottom pattern and the buyers broke the neckline hurdle. It triggered the positive sentiment and fueled further rally.
Meanwhile, ATOM crypto witnessed a massive spike in buying volume and the price also followed the same direction. It shows that some crypto whales are injecting the money and expecting outperformance in the coming months.
At present, ATOM price is trading at $8.010 with an intraday decline of -1.17%. The 24-hour volume to market cap is 7.04%. The pair of ATOM/BTC is trading at $0.0002328 with an intraday decline of -0.94%.
Cosmos Price Surges 10%; Will the Rally Continue?
Cosmos price prediction favors the bulls and suggests more upside is pending. The recent up move in the ATOM crypto looks reliable, so the price is likely to hold the higher levels.
Till the Cosmos price is trading above $7.00, the buyers will remain active, and short-term retracement will be bought up.
On the higher side, $8.630 will be an immediate hurdle for bulls. If buyers succeed in breaking the $8.630 hurdle, then the rally might continue to $10.00.
The analysis suggests that ATOM price is in the bulls’ grip and the possibility of reaching $10.00 remains high.
ATOM Price Formed Bullish Engulfing Candle
ATOM price formed a bullish engulfing candle on a weekly time frame. It shows that bulls are strengthening their grip and preparing for the next phase of the rally.
Meanwhile, the overall crypto market is recovering, so it is also positively affecting the price of many altcoins.
The distance between the MACD line and the moving average is getting wider indicating that bulls are returning to the track. The RSI is at 75 near the overbought territory so minor retracement toward the 50-day EMA is also possible.
Conclusion
Cosmos price prediction is bullish for the long term and suggests a rise in the coming months. The recent upmove looks reliable and buyers are likely to hold the higher levels.
The analysis suggests that the ATOM price is in bulls’ grip and the probability of reaching $10.00 is high.
Technical Levels
- Resistance levels: $8.630 and $10.276
- Support levels: $7.000 and $6.171
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
