From November to mid-December of 2021, the Cosmos coin was under a correction phase. This pullback discounted the coin price by 53% when it plunged to the $20.3 support. Later, the price started recovering and formed a cup and handle pattern, more potential for this rally.
Cosmos Key technical points:
- The ATOM coin provides a bullish crossover of the 20-and-50-day EMA
- The intraday trading volume in the Cosmos coin is $842.8 Million, indicating a 123.9% gain.
Source- Tradingview
The last time when we covered an article on Cosmos on December 26th, the coin price was approaching the $33.5 resistance zone. However, the pair performed another pullback which retested the $26.5 support level.
The confluence of this horizontal level and 200 EMA supported the price to initiate a new rally. Moreover, the chart showed four consecutive strong green candles with a 38.2% growth that breached the $33.5 resistance level.
The crucial EMAs(20, 50, 100, and 200) bolster a bullish trend for ATOM. Moreover, the bullish crossover of the 20 and 50 EMA will accentuate the ongoing rally. The daily Relative Strength Index (63) validates the increasing bullishness in this coin.
Trending Stories
The ATOM Price Would Retest The New Support Of $33.5
Source- Tradingview
This lower time frame chart shows the recent recovery from $36.4 formed the handle portion of a cup and handle pattern. On January 1st, the coin gave a deceive breakout from the $33.5 neckline. Currently, the price is retracing to confirm this breakout, projecting a long entry signal for crypto traders. The coin price is currently trading at $3.54, indicating an intraday loss of 2.45%.
The important resistance levels for the ATOM coin are $39.1 and $44.5. As for the opposite side, the support levels are $26.5 and $22.2.
The Moving Average Convergence Divergence indicator confirms an increasing bullish momentum in this coin, where both the MACD and the signal lines are steadily advancing in the bullish zone.
- Terra LUNA 2.0 Price Falls By Over 60% Hours After Airdrop
- What Is Terra LUNA 2.0, Here’s All You Need To Know
- Whales Accumulating These DeFi Tokens Amid Price Crash
- This Analyst Predicts A Bitcoin Bottom Before Bullish Momentum
- Terra Team Officially Activates Terra 2.0 Pheonix-1 mainnet, Here Are the Details
- Tron’s TRX Burn Total Exceeds 7.7 Billion
- Tron Stablecoin Reaches Key Milestone Amid Bearish Trends
- Binance Italy Gets Govt Nod, Global Expansion Goes On
- Just In: Russia Inches Closer To Crypto Adoption With Latest Move
- Ethereum Classic (ETC) Soars 9% As ETH Crashes, Here’s Why
- CRV Price Analysis: Dual Trendline Limits The CRV Bull Run
- DOT Price Analysis: Uncertainty Over DOT Price May End With Trendline Breakout
- ERON Price Analysis: Emerging Bullish Pattern Foretells 65% Rise In ERON
- AAVE Price Analysis : $95 Breakdown Rease 25% Fall In AAVE Price
- Sandbox Price Analysis: High Volume Breakout Aims SAND To Hit $2.6
- MATIC Price Analysis: Bullish Influence Grows on Consolidation
- TRON Price Analysis: High Volume Breakout may Lead TRX to $0.9 Mark
- Tezos Price Analysis: Dynamic Trendline May Carry XTZ Price to $2.4
- AAVE Price Analysis: AAVE Chart Hints Coin Holders May Lose $100 Mark
- What Next For The Fast Recovering FTM Price?
