ATOM price is reaching for the Cosmos, but why?
Like all altcoins, ATOM price fell as $550 million of BTC, ETH and altcoin positions were liquidated last week. Which is exactly why its 35% rebound is raising eyebrows. As a market crash takes place, assets become oversold and typically there’s an “oversold bounce,” “return to mean,” “mean reversion,” or some price snapback to the bottom of the pre-crash range. Afterward, the asset under study either consolidates, continues the downtrend, or returns to the bullish uptrend if the downside catalyst was not significant enough to break the market structure. That’s all kind of basic trading....
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Cosmos (ATOM) ranged in a wedge against Tether (USDT) as it builds more strength to break above the $12 key resistance. The price of Cosmos ATOM has shown bullish strength as the price breaks above resistance after ranging for days. (Data from Binance) Related Reading: Crypto Market Rally Stopped Short Ahead Of Reaching Full-Blown Greed Cosmos ATOM Price Analysis On The Weekly Chart From the chart, the price of ATOM saw a weekly low of $6.2, which bounced from that area and rallied to a price of $12, marking ten weeks of bullish strength from ATOM. ATOM weekly candle closed with a bullish....
Cosmos moved to a four-month high in today’s session, as crypto markets rebounded following Wednesday’s sell-off. Prices of the token broke out of a key resistance point this afternoon, reaching the milestone. Near protocol was another notable mover, as it hit a three-week high.
Cosmos (ATOM)
Cosmos (ATOM) raced to a four-month high this afternoon, as prices of the token broke out of a key price point.
Following a low of $11.98 on Wednesday, ATOM/USD rose by nearly $2.00 in today’s session, hitting a high of $13.92 in the process.
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Cosmos rose for a fourth consecutive session to start the weekend, as prices edged closer to a resistance point. While cosmos (ATOM) extended gains, tezos (XTZ) rebounded following a streak of recent losing sessions, with bulls seemingly buying this weeks’ dip. Cosmos (ATOM) Cosmos (ATOM) extended its recent bullish run on Saturday, as prices have now risen for four consecutive sessions. The token rose to an intraday peak of $8.33 to start the weekend, as prices have so far increased by over 12% in today’s session. This latest move saw ATOM/USD move closer to its resistance....
Cosmos (ATOM) has maintained so much bullish sentiment topping the charts in the crypto space; despite pullbacks across the market, Cosmos (ATOM) would recover with good volume and rally higher. The price has been faced with resistance on the weekly chart and has shown weakness as much doubt sets in if the price can reclaim the price of $20. (Data from Binance) Related Reading: Terra Dries Up As LUNA Sheds 40% From Recent High Cosmos (ATOM) Token Price Analysis On The Weekly Chart ATOM saw a decline in its price from $45 to around $6, with an over 70% drop from its all-time high despite....
ATOM struggles to break $17 as the price gets rejected. The price of ATOM enters the distribution phase on a daily timeframe. ATOM’s price needs to hold the key support at $12 to maintain a bullish structure. Hidden bearish divergence resurfaces in the 4H timeframe. Cosmos (ATOM) has been the major player of the current relief bounce, with price rallying from a region of $6 to $17, with many paying so much attention to its ecosystem as this could prove to be a major player also in the bull run. The price of Cosmos (ATOM) showed so much strength, holding pretty well against tether....