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Cosmos (ATOM) Price Analysis: The coin has begun the week on a positive note

At the time of writing this article Cosmos (ATOM) was trading at $2.17 against the United States dollar (USD). The market cap of the coin was $531,451,051 United States dollar (USD) and the 24 hours trading volume of the coin was $125,055,695 United States dollar (USD).

The coin was also showing an upward and positive movement of 3.8 percent. Cosmos (ATOM) is showing positive trading patterns since Monday and this new week can turn out to be quite good for the coin. The coin has been on a decline since its Inception but the current position of the coin is quite good although the coin is 70 percent below its all-time high price.

The short term and the medium-term position of the coin is still not good but the daily time frame suggests that the coin could soon recover. A positive MACD price divergence can also be seen and it can be said that the point will soon start showing a bullish Trend.

The coin’s one-hour time frame shows that the coin can move towards the recovery level of $3 against the United States dollar (USD) and if a positive note for the coin continues it can move as high as $5.88 against the United States Dollar (USD). The short term sentiment prevailing in the market towards the coin is bearish but the overall sentiment in the market towards the coin can be said to be neutral.

But seeing the volatility of the crypto market nothing can be said with quite certainly on the coin. If the price falls below the current level then the coin can be in trouble.

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About Ritika Sharma

Ritika Kumari Sharma is an Economics Honors graduate from the University of Calcutta. She is completely into finance and believes that cryptocurrencies are the future. She is an enthusiast learner about the cryptocurrency and blockchain technology.

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