TradeCityPro | ATOM: Cosmos Trends and Key Resistance Insights👋 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.
📅 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.
✨ 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.
💥 The RSI oscillator has moved above the 50 zone, potentially injecting upward momentum into the market, which could help the price reach $5.082.
🔍 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.
✔️ 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.
⭐ 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.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
