Cosmos (ATOM) gave the bull a wink, rising more than 15% in the past two days.
These days, while Bitcoin is running from record to record, it is seen that altcoins are approaching their past peaks. Many altcoins have shown bullish signs, rising between 15 percent and 30 percent in recent days.
Cosmos (ATOM), one of the oldest startups in the crypto industry, is about to break its long-standing silence. According to AMBCrypto’s analysis, ATOM’s price has reached a critical zone. A possible resistance break could give ATOM a significant boost.
Cosmos (ATOM) analysis
In ATOM analysis, it was noted that the price’s 50-day exponential moving average (EMA) acted as resistance. According to the analysis, ATOM should close above the mentioned resistance point for the sustainability of the uptrend.
In the analysis produced by AMBCrypto, the following statements were included.
“ATOM is trading just above the 20-day EMA ($4.35) and the 50-day EMA ($4.47), both of which are key resistance levels. “A decisive close above these EMAs could lead to a resistance zone at $5.66. “
The analysis states that if ATOM fails to hold above the EMAs, it could pull back to trend support at $3.65. The RSI level, which indicates trade appetite, was in the neutral zone at 53 points. According to the analysis, a rise above RSI 60 could pave the way for an upside.
If ATOM loses the support zone at $3.65, a major support point of $3.11 will emerge. If the mentioned level is tested, the uptrend may be in danger. AMBCrypto evaluates the following key resistance levels;
“If an uptrend begins, ATOM faces resistance at the 50-day EMA ($4.47) and $5.66. “A successful break above these levels could push ATOM higher, along with broader market sentiment. Depends on.”
This article does not contain investment advice or recommendations. Every investment and trading venture involves risk, and readers should do their own research when making decisions.
