- ATOM’s crypto price continues to stay above the stagnant zone on the hourly chart
- ATOM’s CMP has decremented by 7% since yesterday but outperforms the last week’s run by 22.6%
- Cosmos has the ability to harness the bullish momentum for the next month only if the indicators support its growth
The Cosmos crypto price continues its bullish momentum after a breakout above its pre-crash price, but with some obstacles during the intraday session. The coin has a market rank of 29 and has its market cap decrement by 4.88% in the last couple of hours. The 24-hour trading volume went up by 24.15%. The volume to market cap stands at 0.1284. The ATOM/BTC pair suffered from an intraday loss of 1.99%. The same happened with the ATOM/ETH pair after losing 1.49% during the same time.
The Cosmos hourly chart displays the current form of the coin. ATOM continues to soar high after a bit of stagnance in the middle of December. The trend lines around the candlesticks stay bullish. The possibility of a double bottom pattern forming in the future marks the presence of a bounce-back on the chart. It is highly probable for ATOM to return in the zone marked as a rectangular region during the pullback. The 50, 100 and 200 EMA lines continue to run under the CMP candle, with the 50 EMA supporting the ATOM’s price action in real-time.
MACD and RSI stays positive concerning ATOM’s price in 2022
ATOM’s daily chart shows that the coin has escaped December’s stagnance and provides an excellent chance to climb back and repair its quarterly growth. The MACD line runs above the zero level while staying convergent to the histogram as a sign of bullish trend continuation. The RSI level resides in the neutral zone and slowly running towards the overbought zone. However, the volume at the CMP stays low, so there’s a low chance of ATOM getting into the extreme zone.
Conclusion- ATOM may continue its current positive trend. A trend reversal may stop the growth, but its exit from the bearish pit may help regain the bullish momentum. Holding for a long position may prove to be profitable.
Resistance- 0.000986 BTC
Support- 0.000403 BTC
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only. They do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.