- The Cosmos price analysis is bullish.
- The Resistance for ATOM is present at the $30.7 level.
- Support for ATOM/USD is at $28.8.
The Cosmos price analysis is bullish for today as the cryptocurrency is in bullish form, and bulls have successfully outperformed the bearish momentum, as the bulls are trying to recover once again. The bulls are planning to breach past the $30.7 resistance as the price has already reached $30.1. The recent uptrend has been quite encouraging as during the past week, the trend line direction has been upwards, and the cryptocurrency has completely recovered from the bearish pressure. The bullish momentum is increasing gradually, and a further improvement in the price value can be expected.
ATOM/USD 1-day price chart: ATOM shows a bullish tendency as the price rallies towards $30
The one-day Cosmos price analysis is going positive for the cryptocurrency as there has been a considerable amount of increase in the price value. The price has surpassed the crucial resistance present at the $28.9 level today and is aiming for a further higher level. Currently, the price has reached $30.1, gaining 6.23 percent value during the last 24 hours.
The moving average (MA) for the 1-day chart is at $28.2 as there has been bullish activity during the last week as well, but the SMA 20 is still trading below the SMA 50. At the same time, the Bollinger bands are making an average of $28.9 in the 1-day ATOM/USD price chart.
The Bollinger bands are showing high volatility for ATOM price function as its upper and lower values are situated at the following marks; the upper limit is at $32.4 representing the resistance, whereas the lower limit is at $25.4 representing the support, also indicating the volatility has been towards the higher side for the day. The Relative Strength Index (RSI) score is 49, and the indicator is at the center of the neutral zone.
Cosmos price analysis: Recent developments and further technical indications
The 4-hour Cosmos price analysis chart shows the price is going high once again as the bulls have gained back their momentum during the past couple of hours. The ATOM/USD price is settled at $30.1 and is expected to increase further in the coming hours. A swing high towards $30.9 was also observed at an instance, but resistance is also quite strong at that level.
The moving average is at the $28.7 level for the 4-hours price chart as the bulls have gained the advantage of the situation as they have been able to reverse the continuous bearish trend. The Bollinger bands indicator shows the following values; the upper value is $30.1, and the lower value is $25.6, hinting at the scope for price fluctuations. The RSI score has also undergone improvement because of the recent uptrend and has reached the index 64 as it moves towards the overbought region.
As the price has rallied high today, the technical indicators chart is giving out a buying signal as well. There are 10 indicators fixed under the buying position, with 10 indicators on the neutral and six on the selling points. Overall the technical indicators are favoring the bullish side as of a whole.
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 a long period of loss. The cryptocurrency’s performance has been good for the last four days, as the price has leveled up again as it has successfully reached the $30.1 position. The bullish momentum is expected to intensify in the coming hours, and we expect ATOM to retest the $30.7 resistance once again in the next 24 hours.
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