Cosmos (ATOM) has maintained a lot bullish sentiment topping the charts within the crypto area; regardless of pullbacks throughout the market, Cosmos (ATOM) would recuperate with good quantity and rally larger. The worth has been confronted with resistance on the weekly chart and has proven weak point as a lot doubt units in if the value can reclaim the value of $20. (Information from Binance)
Cosmos (ATOM) Token Worth Evaluation On The Weekly Chart
ATOM noticed a decline in its value from $45 to round $6, with an over 70% drop from its all-time excessive regardless of having good fundamentals. The worth of ATOM bounced off after touching a weekly low of $6, and the value rallied to $17, exhibiting some nice power.
The worth of ATOM on the weekly chart confirmed nice power rallying to $17 with sturdy quantity, however the value was confronted with main resistance at $17 on the weekly chart. ATOM didn’t flip this weekly resistance into help as the value has maintained a decline however above its bullish trendline help.
For the value of ATOM to pattern larger value must flip the weekly resistance into help and shut above $17; if the value of ATOM fails to rally again to this area, we may see the value of ATOM retesting its help of $12.
The worth of ATOM may retest its weekly help of $12, which is a wholesome retracement. To date, the help of that area holds the value of ATOM from sell-off, and this is able to be an excellent zone for extra purchase orders, and a attainable bounce as the value goals to take care of its bullish sentiment. If the value of ATOM fails to carry $12 help, we may see the value going to a low of $8.
Weekly resistance for the value of ATOM – $17.
Weekly help for the value of ATOM – $12.
Worth Evaluation Of ATOM On The Each day (1D) Chart
The every day timeframe for ATOM costs continues to essential the bullish construction it has fashioned as the value respects the trendline help holding up properly regardless of seeing extra promote quantity.
ATOM’s value wants to carry above this trendline help for the value to bounce and pattern larger, but when the value of ATOM fails to carry, we may see the value of ATOM going to a every day low of $12.5.
On the every day timeframe, the value of ATOM is at the moment buying and selling at $13.56, holding above the 50 Exponential Transferring Common (EMA), appearing as help for ATOM value. The worth of $12.5 corresponds to the help at 50 EMA, appearing as an excellent space for extra demand for the value of ATOM; if the help at 50 EMA fails, we may see the value going to $9.
The Relative Power Index (RSI) for ATOM is above 50 on the every day chart, indicating low purchase order quantity.
Each day resistance for the ATOM value – $15.
Each day help for the ATOM value – $12.5-$9.
Featured Picture From zipmex, Charts From Tradingview 
