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- 1 ATOM price soared over 45% in the last month amid renewed buying interest.
- 2 Buyers are acquiring traction and are likely to surpass $10.
Cosmos (ATOM) ATOM coin showcased a vertical rebound from the demand zone of $6.00 and rose toward the supply zone of $10 snappily in the past trading sessions. Buyers are , and the coin is close to the prompt hurdle of $10. However, ATOM failed to incise the mark and commenced a rejection candle, highlighting the sellers’ strong hold. Thus, ATOM stumbles to break the barrier and created an inverted hammer candlestick.
Cosmos (ATOM) price has overtaken the 200-day EMA and has approached neutrality decisively. Furthermore, the chart displays bullishness and has attained momentum now. However, ATOM needs to interpret the immediate hurdle of $10.00 to continue the triumph and soon catch the blue skyzone beyond $12.
The press time price of Cosmos (ATOM) was $9.55 with an intraday drop of 3.22%, showing rejection from the resistance mark of $10.00. Moreover, the trading volume rose by 6.57% to $259.91 Million, while the pair of ATOM/BTC was at 0.000264 BTC. However, the market cap of ATOM is $3.16 Billion. Furthermore, analysts have maintained a buy rating and suggest a favorable bullish outlook for the upcoming sessions.
Will ATOM Sparkle Gains Above $10?
On the daily chart, ATOM enrolled a double bottom pattern and documented a breakout above the neckline of $8.00 near the 200-day EMA hurdle. Moreover, the price action witnessed a vertical rebound from the demand zone of $6.00. Additionally, the coin has surpassed the 50% Fibonacci retracement zone and is on the verge of the upper bollinger band. ATOM price recovered the gains and is approaching the bullish trajectory near $10. If buyers succeed in escaping the cluster of $10, a rise toward $12 can be anticipated shortly.
The RSI curve stayed in the overbought zone and formed a positive divergence, indicating a favorable bullish outlook for the upcoming sessions. The MACD is also bullish.
ATOM on Weekly Charts Exhibiting Range Bound Moves
On the weekly charts, ATOM displays a range-bound move and is close to the 50-day EMA mark. Additionally, the chart shows the double bottom formation, and a rebound was noted in the past sessions.
ATOM on Monthly Charts Below Neutrality
On the monthly chart, ATOM price is trading close to the support area, where bulls have maintained their grip and are looking to extend the gains.
Summary
Cosmos (ATOM) price is close to the make or break zone of $10.00, which, if surpassed, a sharp rise toward the $15 mark would be anticipated. Whereas, if it fails to sustain there, it will go toward the lows of $7.00. Additionally, the price action highlights the buying momentum and signifies the bulls’ dominance. Furthermore, the coin has undergone correction.
Technical Levels
Support Levels: $9.45 and $9.00
Resistance Levels: $10.80 and $12
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
