- The price of Cosmos (ATOM) has reversed its earlier development after hitting a low of $5.5 on June 19.(*20*)
- During a bullish development, ATM price is retesting the 20 Day Exponential Moving Average on the every day price chart.(*20*)
- Cosmos Coin is within the inexperienced zone with the bitcoin pair up 11.2% at 0.0003679 satoshis.(*20*)
Now the price of Cosmos (ATOM) has reached a downward sloping development line, which stood as a bear protection zone for over 45 days. During a bullish development, ATOM buyers have achieved returns of round 35% over the previous 5 days.
Since the complete crypto market was in a downtrend, ATOM coin additionally follows the market development. But after a bearish 10-week weekend, patrons are seeing a bullish weekend. Thus, on the time of writing, the ATOM coin is buying and selling on the $7.54 mark on the time of writing.
Meanwhile, in line with CMC information, the market cap of ATOM coin is managed nicely above $2.1 billion, up 13.4% within the inexperienced zone over the previous 24 hours.
During the downtrend, Cosmos (ATOM) buyers misplaced over 87 %, however now the bulls are trying to ease the promoting strain. As a consequence, the bulls have recovered 12.5% thus far this week. Furthermore, Cosmos Coin is within the inexperienced zone, with the bitcoin pair up 11.2% at 0.0003679 satoshis.
Amidst the bullish momentum, buying and selling quantity progressively will increase. Similarly, merchants noticed 142% buying and selling quantity in comparison with the earlier evening. But the bulls nonetheless want to gather extra volumes to interrupt the bearish development line.
But Stoch RSI is in overbought zone
Since the start of April, the 20-day exponential shifting common has acted as a major bullish barrier. Meanwhile, ATOM price is at a clear 20 EMA on the time. If the bulls break this bullish barrier, the bulls might goal the 50 EMA additional.
The Stoch RSI reversed sharply from the oversold zone and is now under the overbought zone on the every day graph.
Conclusion
Cosmos (ATOM) price is nearing a bullish barrier. Now it stays to be seen whether or not the bulls are capable of break the resistance stage in addition to the 20 EMA.
Support stage – $6.0 and $5.0
Resistance stage – $8.5 and $10
Disclaimer
The views and opinions acknowledged by the creator, or any folks named on this article, are for informational concepts solely, and they don’t set up the monetary, funding, or different recommendation. Investing in or buying and selling crypto property comes with a threat of monetary loss
