Cosmos (ATOM) technical analysis:
Trade setup: Price broke above the 200-day moving average and $8.50 key level, which confirmed an Uptrend, and reached our target of $10.00. Now we wait for price to either 1) break above $10.00 to signal continuation of an Uptrend with upside to $13.00, or 2) pull back near $8.50 support, which could be an attractive swing trade entry in Uptrend with upside potential back to $10.00.
Trend: Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Mixed as MACD Line is below MACD Signal Line (Bearish) but RSI > 55 (Bullish). MACD Histogram bars are rising, which suggests that momentum could be nearing another upswing.
Support and Resistance: Nearest Support Zone is $8.50 (previous resistance), then $7.50. The nearest Resistance Zone is $10.00, then $13.00.
Trade setup: Price broke above the 200-day moving average and $8.50 key level, which confirmed an Uptrend, and reached our target of $10.00. Now we wait for price to either 1) break above $10.00 to signal continuation of an Uptrend with upside to $13.00, or 2) pull back near $8.50 support, which could be an attractive swing trade entry in Uptrend with upside potential back to $10.00.
Trend: Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Mixed as MACD Line is below MACD Signal Line (Bearish) but RSI > 55 (Bullish). MACD Histogram bars are rising, which suggests that momentum could be nearing another upswing.
Support and Resistance: Nearest Support Zone is $8.50 (previous resistance), then $7.50. The nearest Resistance Zone is $10.00, then $13.00.