TradeCityPro | ATOM: Cosmos Trends and Key Resistance Insights๐ Welcome to TradeCityPro!
Today, I'm going to analyze the coin ATOM, part of the Osmosis projects and the Cosmos ecosystem, which is currently ranked 49th with a market cap of $1.8 billion.
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Daily Timeframe
In the daily timeframe, as you can observe, after reaching a peak at $10.363, a downward trend started, which continued down to the area of $3.562.
โจ Currently, the price is in a corrective phase, having risen from the low of $3.562, and is moving upward. The last major peak is located at $5.082, and the corrective leg could continue up to this area.
๐ฅ The RSI oscillator has moved above the 50 zone, potentially injecting upward momentum into the market, which could help the price reach $5.082.
๐ However, there is a strong resistance range between $5.082 and $5.683. As long as the price is under this range, the buying power is weaker than the selling pressure. But if the price breaks through $5.683, it could move higher.
โ๏ธ The next resistance levels are at $7.469 and $10.363, with $10.363 being particularly robust and visible in higher timeframes as well. The main trigger for a spot purchase would be the breakout of $10.363.
โญ Conversely, if the price rejects from $5.082, the main short trigger would be $3.562. A break below this level could initiate the next downward leg.
๐ Final Thoughts
This analysis reflects our opinions and is not financial advice.
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