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Tuesday, November 29, 2022
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    HomeMarketCosmos (ATOM) struggles To Stay Bullish, Is $20 Still Possible?

    Cosmos (ATOM) struggles To Stay Bullish, Is $20 Still Possible?

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    Cosmos (ATOM) has maintained a lot bullish sentiment topping the charts within the crypto house; regardless of pullbacks throughout the market, Cosmos (ATOM) would get well with good quantity and rally increased. The value has been confronted with resistance on the weekly chart and has proven weak spot as a lot doubt units in if the value can reclaim the value of $20. (Knowledge from Binance)

    Cosmos (ATOM) Token Value Evaluation On The Weekly Chart 

    Weekly ATOM Value Chart | Supply: ATOMUSDT On Tradingview.com

    ATOM noticed a decline in its worth from $45 to round $6, with an over 70% drop from its all-time excessive regardless of having good fundamentals. The value of ATOM bounced off after touching a weekly low of $6, and the value rallied to $17, exhibiting some nice power.

    The value of ATOM on the weekly chart confirmed nice power rallying to $17 with sturdy quantity, however the worth was confronted with main resistance at $17 on the weekly chart. ATOM didn’t flip this weekly resistance into assist as the value has maintained a decline however above its bullish trendline assist.

    For the value of ATOM to pattern increased worth must flip the weekly resistance into assist and shut above $17; if the value of ATOM fails to rally again to this area, we might see the value of ATOM retesting its assist of $12.

    The value of ATOM might retest its weekly assist of $12, which is a wholesome retracement. To date, the assist of that area holds the value of ATOM from sell-off, and this could be a superb zone for extra purchase orders, and a attainable bounce as the value goals to keep up its bullish sentiment. If the value of ATOM fails to carry $12 assist, we might see the value going to a low of $8.

    Weekly resistance for the value of ATOM – $17.

    Weekly assist for the value of ATOM – $12.

    Value Evaluation Of ATOM On The Day by day (1D) Chart

    Day by day ATOM Value Chart | Supply: ATOMUSDT On Tradingview.com

    The each day timeframe for ATOM costs continues to primary the bullish construction it has shaped as the value respects the trendline support holding up properly regardless of seeing extra promote quantity. 

    ATOM’s worth wants to carry above this trendline assist for the value to bounce and pattern increased, but when the value of ATOM fails to carry, we might see the value of ATOM going to a each day low of $12.5.

    On the each day timeframe, the value of ATOM is at the moment buying and selling at $13.56, holding above the 50 Exponential Shifting Common (EMA), appearing as assist for ATOM worth. The value of $12.5 corresponds to the assist at 50 EMA, appearing as a superb space for extra demand for the value of ATOM; if the assist at 50 EMA fails, we might see the value going to $9. 

    The Relative Energy Index (RSI) for ATOM is above 50 on the each day chart, indicating low purchase order quantity. 

    Day by day resistance for the ATOM worth – $15.

    Day by day assist for the ATOM worth – $12.5-$9.

    Featured Picture From zipmex, Charts From Tradingview 



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