- ATOM token price loses bullish momentum as it enters the consolidation phase.
- All the rising EMAs project growth in underlying bullish momentum.
- The pair of ATOM/BTC is trading at 0.001372 BTC, facing an intraday gain of +0.85%.
ATOM token price has moved higher after finding support at $26. This is due to the formation of the bullish engulfing candlestick that project the rise in underlying bullishness.
Moreover, the token price has completed the retest of the recent consolidation phase and may shortly rise higher.
Support has been found for the ATOM price by the Exponential Moving Average (20-day), while other indicators are rising in the technical charts of 24-hours with a bullish alignment and a positive slope.
Currently, the ATOM Token price is $39.54, a fall of -0.30% in the market cap over the last 24 hours. This suggests the retest completion.
In the past 24 hours, the intraday trading volume for the ATOM token rose 72%. This suggests that there will be an increase in ATOM token buyers due to lower prices rejection.
ATOM Token Price Retests The Bullish Breakout
ATOM Token’s bullish breakout of $38 signals an uptrend after the recent completion of retest, as indicated in the 4-hour charts. Therefore, investors with a bullish outlook could see this as an entry point.
The ATOM Token Price is higher than any EMAs on the technical 4-hour chart. Moreover, it has been rising in a bullish orientation.
The coin may face resistance at $45 or $55, depending on the price action. The ATOM Token, however, has the support of $30.
RSI signals a rise in underlying bearishness. The RSI lines rise towards the overbought areas and then spike out of neutral.
The ADX symbolizes a growing trend because the ADX line keeps moving higher.
Conclusion: ATOM token price may soon witness a dramatic increase after retesting its bullish breakout from the consolidation phase. Investors with a bullish outlook about Cosmos may find this test a low-risk entry with a reasonable risk-to-reward ratio.
Support- $30 and $20
Resistance- $45 and $60