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based on the aligned analyst theory and ATOM's daily chartIs Analyst Bullish On Daily Chart of ATOM Price? Despite the lack of lustrous movement in ATOM, many analysts are positive. One such analyst, @CryptoTony, eagerly awaits its price drop towards his buying level and accumulates this asset into his possession. x.com Since the fall from ATH, the price has ended up at multi-year support of $6.5, which has defended its price from bears time-over-time. Correspondingly, from the last quarter of 2023 and the first quarter of 2024. ATOM price developed an ascending wedge pattern, after trying hard to rise. However, the bearish downward pressure accelerated, which began from a YTD high of $14.505 achieved in the first quarter of 2024. This led to the failure of the long-sustained multi-year support of $6.5 in the third quarter of 2024. Similarly, the price has come down to the last month of the third quarter and showed no turning back signs. based on the aligned analyst theory and ATOM's daily chart, in the short term, the bearishness seems to continue toward the $2.5 support. This level seems pretty close to the analyst buying level. Therefore, the ATOM has experienced a sustained downtrend. Which, again, looked like a pattern under construction, precisely, a falling wedge pattern on the daily chart. If the support is followed by major bulls' interest from the wedge's lower boundary. The ATOM price propulsion could attain a breakout with targets at $6 and $9, respectively. However, on the continuation in the downside, the support mandate to be monitored would be the $2.5 demand zone.
COINBASE:ATOMUSDLong
by Sam_TCR
Cosmos (ATOM) Price ACtion Outlook This bearish downward trend began in March 2024, after its price reached a swing high of $14.505, from an ascending wedge developed in the last quarter of 2023 and the first quarter of 2024. Since that peak, the asset has been in a continuous decline, which most likely appears as a breakdown of a bearish pattern, precisely the ascending wedge pattern. ATOM has experienced a sustained downtrend. Which again looked like the development of a falling wedge pattern on the daily chart, which appears to be a bullish pattern under construction. Since the bearishness appears high and derivatives liquidation of longs were high too. There is a higher chance that the dip could increase towards making strong support from the wedge's lower border. In the case of further dip, the supports of $4 and $3.5 could play significant roles. Once breached downtrend could extend. However, on the flip side, if it dips and takes humongous support followed by major bulls' interest from the wedge's lower border. The price propulsion could attain a breakout by completing the falling wedge pattern. Therefore, in case of a rise, the interruptions that could pose a threat to its scent would be present at $6, and $8, respectively. Corresponding to the daily chart price of ATOM, the indicators depict a bearish trend, too. However, a minor change has been observed that resembles some buying input in the asset. As RSI surged above 14-SMA, bears still reigned supreme as MACD showed bears cross.
COINBASE:ATOMUSDLong
by Sam_TCR
Cosmos Price Forecast: Bull Run Ahead or Bears Strike Again?Cosmos Price Forecast: Bull Run Ahead or Bears Strike Again? Meta Description: Cosmos price has made a strong comeback of nearly 15% in the recent sessions. Cosmos price made a strong recovery gaining nearly 15% in the recent sessions. The weighted sentiment curve has reclaimed the bullish territory indicating a further recovery in the price. The broader markets saw a strong comeback by the bulls this week after a sharp downfall in the previous sessions. Cosmos (ATOM) crypto had already been in a declining trend which widened as the market suffered weakness. However, the recent sessions saw a strong comeback by the bulls in the broader markets and Cosmos as well. Cosmos price has made a strong comeback of nearly 15% in the recent sessions. At the time of writing, ATOM was exchanging hands close to $5.21 recording a positive development of 2.44% a day. Despite recovery in the recent sessions, the investors fear another selloff as the long term trend still points to the bearish side. However, a slight change in the on-chain data was noted by the analysts which hints that the recovery may continue to prevail rather than any correction ahead. Let's understand it in detail and try to figure out the possible trajectory of Cosmos' price from CMP. Weighted Sentiment Curve Adds Improvement To The Investors Sentiment. While the broader market is regaining strength, investors are out searching for potential cryptocurrencies that may generate short term returns on their capital. Despite being in a long term bearish trend Cosmos (ATOM) might have the potential to generate impressive returns in the short term as per the analysts. Source: app.santiment.net The analysts have noted a significant development in the recent sessions in an important on-chain metrics weighted sentiment. The positive sentiment has grown rapidly in the recent session due to which the weighted sentiment curve has shifted to a positive territory indicating a continuation in the recovery. The weighted sentiment curve represents the current biasness of the traders and investors whether they are positive or negative and where it is headed at the moment. A positive sentiment is in domination if the weighted sentiment curve hovers above the zero line and vice versa. Cosmos Price Technical Analysis. From a technical standpoint, Cosmos' price has headed for a recovery after a sharp crash. At the moment, Cosmos price was lagging below all the key EMAs of 20, 50 and 200 days suggesting a strong bearish trend in the previous sessions. On the higher side, the most recent hurdle lies near the $5.7 which was the previous support zone now turned to resistance. Also, the $5.7 level is important due to being the golden zone of Fibonacci retracement tools. As Fibonacci is drawn from the recent swing high of $6.8 to recent swing low of $4 level, the $5.7 level emerges as the 50% zone. The 50% zone of Fibonacci acts as a crucial for a trend continuation as well as a trend reversal. Now, a bullish reversal may be observed on the charts if the ATOM price manages to breach the $5.7 level and resume further. On the contrary, if the recovery loses steam near the 50% retracement zone, it may emerge as a sell on rise opportunity for the bears and the price may see more downfalls. At the time of writing, the Relative strength index line has recovered from an oversold zone and was placed at 40.30 points. whereas, the 14 day SMA line was placed close to 34.72 points. Moreover, a bullish crossover between both the lines was observed indicating a price recovery.
CRYPTO:ATOMUSDLong
by Ritika_TCR
looks primed for a massive surgeTechnical Outlook Of Cosmos (ATOM) Crypto Price ATOM price had been doing great until March 7th, 2024, when the price was rallying and reached $14.20. However, the price was not able to hold on to its gains and plunged, by following a declining trendline. However, the Cosmos crypto fell up to $7.20, which gave candle closing to form a support at $8.00 by mid-April and has been consolidating in a Darvas box range. The price range of $7.25 to $9.40 signifies that the bulls are holding the key support, and bears are desperately trying to breach the support. But, bears are not that strong to break the support level of $8.0. This could be a major sign of a comeback as the price needs a push to break the Darvas box range and aim for 70% growth on the daily chart. What Does Indicators Signifies In terms Of Consolidation? Similarly, Cosmos (ATOM) asset price indicators are demonstrating the consolidation as well, as it stay close to the 20-day and 50-day EMAs. Likewise, the MACD is exhibiting neutral signs, and the RSI is at the median line at 50.30, which implies that ATOM looks trapped, as its relative strength is at the neutral line, and no strength in price yet. Analyst Jesse Olson posted an optimistic tweet on X platform, that ATOM shows a buy signal over the daily chart, and a bullish breakout could be triggered out of this Darvas box consolidation. Overall, Cosmos (ATOM) looks primed for a massive surge, as it builds up strength by consolidating in the Darvas box sideways price range. Once breached, the price could thrust through the resistance and skyrocket to new levels from the current support levels. At press time, the ATOM crypto fell by 0.27% in the last 24 hours at $8.59. Therefore, if the demand for the asset remains high, Cosmos (ATOM) could bounce back from the current level. The next target for the ATOM could be to reach $12.0, and $14.30. However, if the ATOM fails to stay above the $8.0 level, it could decline further.
COINBASE:ATOMUSDLong
by Sam_TCR
1
ATOM Price Losses 20% From The Past One Year, Are ATOM Bulls DeATOM has a market cap of $3.2 Billion and is ranked 32nd in the cryptoverse. It has observed a gain of 10% in the volume in the last 24 hours. ATOM price is currently training near the value of $8.41% with a drop of over 20% in the last one year period. ATOM token price is currently moving in a strong consolidation zone on the daily chart. It is trading below the 50 and 200 EMA on the daily chart. The RSI of ATOM price is currently at 45 with no slope in it hinting its presence in the oversold zone. The overall sentiment of the RSI is neutral in nature.
GEMINI:ATOMUSD
by Ritika_TCR
1
Cosmos crypto has seen an increaseThe price of Cosmos experienced a bullish market trend between October 2023 and March 10th, 2024, leading to a significant increase in its price value from $6.20 to $14.50, as per the daily chart. Cosmos has been performing well in the last six months, with a gain of 34.66%. However, in the past week and month, the price violated the uptrend from the supply level of $14.50. As a result, the weekly and monthly charts showed a decline of -21.72% and -31.37%, respectively. However, the Cosmos crypto has exhibited a sign of possible recovery coming soon on the daily chart, as the price showed strong sustenance signs at a crucial support level of around $7.20. It's probable that the Cosmos crypto may experience a significant increase once again. This is because its price had previously soared from around a similar level of support. The main reason for this is the willingness of the buyers to surpass the resistance level, which will push the asset to higher levels from its current supporting range. The Cosmos asset indicates that its bullish strength is coming back and its capacity to rise is visible on the daily chart. If buyers come into the market, the price of Cosmos could potentially surpass the important 20-day and 50-day EMA's from a lower position. Meanwhile, the ATOM crypto asset is displaying bullish behavior as the MACD histogram is not growing, which is at -0.309 and confirms the sustenance activity. Similarly, the RSI is at 30.28 this highlights that it can extend its gains, as it has turned in the 14-SMA direction in the hopes of breaking it from below. Cosmos crypto has seen an increase of 3.57% in the past 24 hours and is being traded at $8.648 at this moment of writing. Therefore, if the demand for the ATOM price (Cosmos) increases from the current support, it could bounce back remarkably. The next target for the price could be to reach $10.0 and $12.0. If the price value of Cosmos crypto fails to stay above $7.20, it could potentially see a further decrease as well.
COINBASE:ATOMUSDLong
by Sam_TCR