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- 1 The ATOM coin gained traction and has exceeded the $10 mark.
- 2 The Cosmos coin price signifies bull accumulation and is eyeing the $20 mark.
The Cosmos coin (ATOM) signifies an up move and has decisively crossed the $10 mark, replicating a buying momentum on the charts. Furthermore, the price action indicates the higher high swings, and an impressive trend reversal was noted. The coin has crossed the $12 mark, the neckline hurdle, and reached the bullish trajectory. Moreover, the coin has climbed above the key moving averages, and buying pressure has persisted in the past sessions.
At press time, the Cosmos (ATOM) price was trading at $13.59 with an intraday gain of 0.97%, indicating neutrality on the charts. It has a weekly return ratio of 3.89% and 38.67% on a monthly basis. The pair of ATOM/BTC is at 0.000188 BTC, and the market cap is $4.54 Billion. Analysts are neutral and suggest the ATOM coin price will gain momentum and may reach the $20 mark soon.
Cosmos Price Volume Profile Indicates Bull Accumulation
The above data shows that the Cosmos coin price has kept rising since the start of this month and grew over 18% this week. However, the trading volume declined over 30% to $323.89 Million, indicating low investor interest and signs of trap formation on the top. The coin price is hovering near the $13 mark and may face retracement to the $10 mark.
ATOM Price Shows Drop In Volatility; Sentiments Remain Neutral
This week, the coin witnessed steady price moves with low volatility, which signifies that buyers are holding the gains on the top and are looking for a bounce. The volatility curve was noted at 0.011, which signifies neutrality on the charts. However, the total weighted sentiments indicate a massive setback and a bounce was noted. The change in sentiment leads to positiveness and a notable rise in the coin price in the past weeks.
Social Dominance and Development Activity Analysis
The Social Dominance data witnessed a decline of over 45% to 0.423%, indicating lower discussions and media reports on social media platforms. However, the development activity suggests a rise of over 25% to 59.62, revealing the positive network growth of the coin.
Relative Strength Index (RSI) and Open Interest (OI) Analysis
The Cosmos coin price keeps rising, and the RSI curve jumps to 68, staying in the overbought zone, whereas the market cap of the coin was noted at $4.59 Billion, a surge of over 7% was noted in the last week. Moreover, the derivative data signifies the bullish outlook, and the open interest jumped over 10.38% to $166.27 million, meaning buyers are putting effort into raising the coin price.
As per the Fibonacci retracement data, the coin price has sustained above the 38.2% zone and is close to the 50% zone. The coin has a total supply of 329.10 million, and the volume-to-market cap ratio is 0.0769.
Summary
The Cosmos coin (ATOM) signifies an up move and is trading with bullish sentiment, replicating a breakout in the recent sessions. The trend is intact, and the coin has started delivering higher high swings and is reaching a bullish trajectory.
Technical Levels
Support Levels: $13 and $12
Resistance Levels: $14 and $15
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.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
