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Cosmos price analysis: Price rears to $38.4 as the bears lift restrictions

Cosmos price analysis Price rears to as the bears lift restrictions

TL;DR Breakdown

  • The Cosmos price analysis shows a bullish trend.
  • The value is present at the $38.2 level.
  • Support for ATOM/USD is at $35.3.

The Cosmos price analysis shows that the bulls are trying to recover once again. The price has been rising and is planning to breach past the $38.4 resistance. The recent uptrend has been quite encouraging, as, during the past week, the cryptocurrency remained under the bearish shadow completely. The bullish momentum is increasing gradually, and a further improvement in the price value can be expected.

ATOM/USD 1-day price chart: Bulls bounce back as the price escalates towards $38.4

The one-day Cosmos price analysis is going positive for the cryptocurrency as there has been a considerable amount of rise in the price value. The price has now surpassed the $38 level and is aiming to settle down at a higher level. Meanwhile, the moving average (MA) for the 1-day chart is at $37.8 as there has been bullish activity during the last week as well. At the same time, the Bollinger bands are making an average of $36 on the 1-day ATOM/USD price chart.

Cosmos price analysis: Price rears to $38.4 as the bears lift restrictions 1
ATOM/USD 1-day price chart. Source: TradingView

The Bollinger band values are situated at the following marks; the upper band is at $41.5, whereas the lower band is at $31.4. The volatility has been mild for the day. The Relative Strength Index (RSI) score is 54, which is quite an average number.

Cosmos price analysis: Price hovers above $38 as the bulls regain stability

The 4-hour Cosmos price analysis chart shows, price is uplifted once again as the bulls have gained back some strength during the past couple of hours. The current ATOM/USD price is going $38.2 and is expected to touch an even greater height today, but the selling pressure is also there as the last candlestick is red. In comparison, the moving average is at the $37.7 level for the 4-hours price chart. The bulls have gained the advantage of the situation as they have been able to reverse the continuous bearish trend.

Cosmos price analysis: Price rears to $38.4 as the bears lift restrictions 2
ATOM/USD 4-hours price chart. Source: TradingView

The Bollinger bands indicator gives us the following values; the upper value is $38.7, and the lower value is $36 at the time of writing. The RSI score has again started to fall recently as selling pressure is building, and the RSI is present at index 54.

Cosmos price analysis: Price rears to $38.4 as the bears lift restrictions 3
ATOM/USD technical indicators chart. Source: TradingView

As the price has increased today, the technical indicators chart is giving out a buying signal. There are 17 indicators fixed under the buying position, with eight indicators on the neutral and one on the selling points.

The moving averages indicator confirms the rise in price as well, as it is also giving a bullish signal. There are 14 indicators on the buying position, with no indicators on the selling and one on the neutral positions. The Oscillators are giving a bullish hint as well, with seven indicators present at the neutral position, three at the buying position, and one on the selling position.

Cosmos price analysis conclusion

The Cosmos price analysis suggests, the trend for ATOM/USD has been bullish for the day as the bulls are trying to find recovery after yesterday’s loss. The price has leveled up again as it has successfully reached the $38.2 position. The bullish momentum is expected to intensify in the future as long as the support remains standing above $35. Overall, the chances have increased for the buyers to invest in the cryptocurrency as the bulls are moving high.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Arnold Kirimi

Arnold Kirimi

Arnold is a crypto and blockchain enthusiast. A communications expert with interest in hard-hitting journalism, he is always on the hunt for the latest events in the cryptocurrency world. He is inspired by what Bill Gates said, “Bitcoin is a technological tour de force.”

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