- Cosmos price analysis is bullish for today.
- ATOM/USD established a new all-time high at $44.5 overnight.
- Retracement to retest previous resistance seen earlier today.
The Cosmos price analysis for today is bullish, as the market has established a new all-time high at $44.5 and is currently trading just above the $40 previous resistance. As a result, we anticipate ATOM/USD to continue rising in the coming 24 hours as long as the $38 mark holds.
The cryptocurrency market was in the red for most of yesterday. Bitcoin and Ethereum, which are the market’s leaders, have shed 4.15 % and 6.6%, respectively. In contrast, Cosmos (ATOM) is the largest gainer, with a 10% gain.
Cosmos price movement in the last 24 hours: Cosmos sets a new all-time high at $44.5
The price of ATOM/USD has been in a tight range for the past 24 hours, ranging from $39.1 to $44.54. Volume has increased by 15%, with a value totaling $2.95 billion and a market capitalization of around $9.0278 billion, putting it at the #20th position worldwide.
ATOM/USD 4-hour chart: ATOM pauses before further upside?
ATOM’s price is currently approaching the $42 level, which it has previously tested. We can see a small retracement on the 4-hour chart as the prior high of $40 is retested.
The last week has seen considerable bullish momentum in the market. After a powerful drop on September 7, a new major swing low was established around $18.
On the 24th of July, after several months of consolidation, ATOM/USD started to surge once again and set new highs on a regular basis until the previous all-time high of $32.5 was broken on September 12th. Upward momentum was maintained until the price reached $38.
ATOM/USD stopped the climb on Tuesday, retreating to the previous all-time high support level of $32.5, with several days of consolidation around the price area. On Thursday, the Cosmos price made another push higher, establishing a new low peak as bulls were not yet ready to go any further.
However, after another retest of the $32.5 crucial support on Friday, ATOM eventually pushed higher and established a new all-time high overnight at $41.5.
Cosmos Price Analysis: Conclusion
The price analysis of the Cosmos cryptocurrency is bullish, with the market setting a new all-time high overnight and presently seeing a modest retracement. As long as we don’t see an additional downside, we should observe ATOM/USD rise higher and establish further highs.
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