Cosmos Price Prediction: ATOM Gains 2.83% as Resistance Level is Hit
The Cosmos price has seen a wholeย lotย of gain of 2.83% as it reaches the resistance level of $7.16. Asย ofย now, the price of Cosmos (ATOM) stands at $7.12 with a market cap of $2.5 Billion and a circulating supply of 364.7 million.
ATOM/USD Market Outlook
Key Levels:
Resistance levels: $8.0, $8.2, $8.4
Support levels: $6.2, $6.0, $5.8
ATOM/USD has been experiencing a steady upward movement, reaching the resistance level of $7.16 after five consecutive days of positiveย trend activity. As one of the emerging coins in the market, Cosmos (ATOM) is expected to touch the resistance level of $7.5 in its next positive move, indicating a long-term positiveย trend outlook.
Cosmos Price Prediction: Will Cosmos Break Higher?
The Cosmos price is asย ofย now trading over the 9-day and 21-day moving averages within a channel. If the price breaks over the upper boundary of the channel and closes over it, ATOM/USD could continue its upward trend and potentially reach resistance levels at $8.0, $8.2, and $8.4.
Nonetheless, if the technical indicator fails to cross over the 50-level, bears may return to the market, causing the price to hit support levels at $6.2, $6.0, and $5.8 respectively. The Relative Strength Index (14) is asย ofย now crossing over the 50-level, indicating additional positiveย trend signals.
ATOM/ Bitcoin Shows Upside Potential
Against Bitcoin, the Cosmos price has been on a positiveย trend trend, growing over the 9-day and 21-day moving averages to reach the resistance level of 2701 SAT and beyond. This upward movement suggests a promising sign for buyers, potentially allowing the digitalย currency to break over the upper boundary of the channel.
If bears push the price below the 9-day and 21-day moving averages, critical support can be found at 2400 SAT and lower. On the other hand, resistance levels over the channel are located at 3000 SAT and higher. The Relative Strength Index (14) crossing over the 50-level further supports positiveย trend movement within the channel.
Alternatives to Cosmos
The daily chart indicates that Cosmos is tryingย to establish more positive trends, potentially leading to a positiveย trend toย continue that could test the resistance level of $7.5. Traders may witness additional positiveย trend trends if Cosmos maintains its growing channel pattern in future trading sessions.
Inย addition, thereย is aย chance to acquire the token at its current presale price before it becomes available on exchanges. With over $25 Million raised in funding, this token is anticipating its official launch in the coming days.
$WSM presale going before the end of September 2023. This is the next Memeย Coin token with a huge potential.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.
