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lang="ru-RU"> Cosmos Price Analysis: The $10 conceptual level is the first stop for ATOM investors? ⋆ ethereum today news bitcoin and crypto altcoins blockchain

Cosmos Price Analysis: The $10 conceptual level is the first stop for ATOM investors?

Cosmos (ATOM) has now crossed above a downward sloping trend line that served as a bear defense zone prior to the 45-day breakout. ATOM investors face a retracement phase throughout a bullish trend, but the price movement remains to form higher lows on the daily price graph.

ATOM’s price has recently recovered from its 10-day low. As a result, the ATOM coin is currently trading at $8. However, the bulls will have to face the retracement phase once more during the intraday trading session..

Source: ATOM/USDT by Tradingview 

Weekly price action takes place inside the previous bearish candles. At this point, further price prediction is quite difficult unless the price breaks the high or low of the previous weekly price candle.

The market cap of Cosmos (ATOM) coin reached above $2.2 billion according to CMC data, an increase of 8% in the last 24 hours. Amidst pump and dump, the price of ATOM pairs with bitcoin pair traders at 0.000417 Satoshis, giving support to the bulls by 9.1%.

Buying opportunities turned into a bullish opportunity as ATOM cost remains above the green moving zone of the MA ADX indicator on the daily price chart. By trading volume, bulls are buying ATOM coins.

Bears failed to dump ATOM price below 20 DMA 

Source: ATOM/USDT by Tradingview 

On the daily price scale, the 20-day EMA is acting as a short-term support level for the ATOM bulls. Meanwhile, the bulls struggle near the 50 DMA (Blue).

Besides, the daily Stoch RSI indicator moved above the semi-line and again to the overbought zone.

Conclusion

Cosmos (ATOM) is trapped below the 20-day SMA or the 50-day SMA. Buyers may see a slight downside near the $10 round level if the price moves above the 50 EMA.

Support level – $6.0 and $5.0

Resistance level – $10 and $15

Disclaimer 

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

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