From November to mid-December 2021, the Cosmos coin is in a correction phase. This retracement decreased the coin’s rate to 53% as it dropped to the $twenty.three help. After that, the rate started off to recover and formed a cup and manage pattern, additional probable for this rally.
Main technical factors of Cosmos:
- ATOM provides a bullish crossover of the twenty- and 50-day EMAs
- Cosmos’ intraday trading volume was $842.eight million, exhibiting a 123.9% enhance.
The final time we pointed out an short article about Cosmos on December 26, the coin rate approached the $33.five resistance spot. However, the pair created yet another pullback, retesting the $26.five help.
The confluence of this horizontal degree and the 200 EMA supported the rate to start out a new rally. Furthermore, the chart displays 4 consecutive robust green candles with 38.two% development that broke the $33.five resistance degree.
The critical EMAs (twenty, 50, one hundred and 200) are bullish for the ATOM. Moreover, a bullish crossover of the twenty and 50 EMA will highlight an ongoing rally. The every day Relative Strength Index (63) confirms the coin’s developing bullish bias.
ATOM rate will retest new help at $33.five
This decrease time frame chart displays the latest bounce from $36.four that formed the manage of a cup and manage pattern. On January one, the coin created a foolproof breakout from the $33.five degree. Currently, the rate is retesting to verify this breakout, heralding a prolonged-phrase entry signal for crypto traders. The coin rate is now trading at $three.54, exhibiting an intraday reduction of two.45%.
The critical resistance ranges for ATOM coin are $39.one and $44.five. For the upside, the help ranges are at $26.five and $22.two.
The Moving Average Convergence Divergence indicator confirms a developing bullish momentum in the coin, the place the two the MACD and the signal lines are ascending in the bullish zone.