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- 1 Cosmos price prediction suggests that ATOM crypto may show a massive breakout in December.
- 2 ATOM price sustains above the 50-day EMA and 200-day EMA.
- 3 The trading volume in ATOM crypto is in the increasing phase.
ATOM price prediction says bulls are getting active and may show a sharp rise in the coming months. It is forming a bullish continuation pattern and buyers are trying their best to break the $10.00 hurdle.
At the beginning of November, Cosmos price began to trade above the 50-day EMA. Slowly, the recovery continues and the price climbs above the 200-day EMA. It shows that the trend has reversed in the upward direction.
Meanwhile, ATOM crypto witnessed a massive spike in the buying volume indicating big players have injected the money. So, any minor short-term correction will have a high possibility of getting a bounce.
In mid-November, buyers attempted to break out of the $10.00 hurdle. But the attempt failed and the price witnessed profit booking. It retraced back to the 50-day EMA which is currently acting as a strong support for the bulls.
Luckily, the buyers were active and came forward to give a bounce. Currently, the ATOM price is trading at $9.367 with a one-day increase of 1.57%. The 24-hour volume to market cap is 4.48%.
Will ATOM Price Fly to $12 in January 2024?
ATOM price showed a surprising recovery in the last two months and completely changed the viewpoint of the investors.
The recent recovery looks reliable because it is supported by the higher volume. So, the probability of continuing the upward momentum remains high.
Furthermore, the crypto leaders like BTC and ETH price also performed well which improved the market sentiment. So, it also positively impacted the price of ATOM and other altcoins.
The analysis suggests that Cosmos price is in an uptrend so it might fly to $12.00 in January 2024.
Is Cosmos Price Bullish on a Weekly Chart?
Cosmos price rose for six consecutive weeks and displayed a bullish pattern on the weekly chart. Currently, the price is forming a bullish hammer candle on the weekly chart which shows the strong presence of buyers at the lower levels.
The MACD curve sloping sideways denotes price may spend a few more weeks in the consolidation range. However, the RSI at 55 denotes the strength of bulls, and more scope for upside is open.
Conclusion
ATOM price prediction is bullish for December and suggests a significant rise in its value is possible. The buyers look more aggressive so the probability of a $10.00 breakout remains high.
The technical analysis suggests that Cosmos price is inside the bulls’ grip so more upward momentum is possible in the coming months.
Technical Levels
- Resistance levels: $10.594 and $12.946
- Support levels: $8.000 and $6.151
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.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
