Cosmos Price Prediction: Will ATOM price reach $15.00 by 2023 end

• Cosmos Price Prediction suggests rise in the long till it holds $10.00.
• ATOM Price struggles to defend the $10.00 support.
• Cosmos Price trading below 50 and 200 day EMA shows downtrend. 

Cosmos Price Prediction suggests rise and the long term outlook remains bullish till price holds the $10.00 support. 

The ATOM Price performed well in the beginning of 2023 and generated decent returns for the long term investors. It created a hope for continuing the rally but due to sell off in the overall market the rally halted near $15.00. 

ATOM Price dropped below 50 and 200 day EMA and displayed a death crossover. It shows downtrend and dominance of sellers on the higher levels. From the past few months, ATOM price is consolidating in the range between $10.00 to $13.00. 

The buyers tried multiple times to break the higher range and expand upward but got rejected. Luckily, the buyers are still defending the $10.00 support which is providing hope for short term reversal. 

Cosmos Price is trading at $10.666 with an intraday decline of -0.78%. The 24 hour volume to market cap ratio is 0.0603. The pair of ATOM/BTC is trading at 0.0003980 with an intraday rise of 0.40. 

The chart pattern looks quite stable and consolidates in the range. The both the pairs are trading sideways and consolidating for the base formation.

Will Cosmos Price rise in the 2nd half of 2023?

Cosmos price fell 9% approx in the previous month but buyers succeeded to defend the $10.00 support. It shows responsive buyers are active on the lower levels and it will be difficult to pull the prices further down. 

Till ATOM price holds $10.00 support the probability of rebound remains high. However, the confirmation of bullish trend reversal will come when buyers succeed to break the $13.50 level. 

On the other hand, if the price drops below $10.00 then it may raise concern for the long term investors. ATOM price needs genuine buying to expand the range upward else bears will take over the control and drag the prices down toward $8.400. 

The technical analysis shows, ATOM price is in consolidation phase and no signs of range expansion is visible.

ATOM Price: Technical outlook

ATOM Price is forming a Doji size candle on a weekly time frame for the past few weeks. It shows indecisiveness and prices lack direction. The overall market is turning mildly bearish which hurts the sentiment of long term investors and might negatively impact the ATOM crypto. 

The technical indicators like MACD had generated a positive crossover and histogram bar is on rise shows buyers trying their best to rebound. The RSI at 47 denotes neutral territory and balance between buyers and sellers.

Conclusion

Cosmos Price Prediction suggests a rise and the long term outlook is bullish. However, for the short term ATOM price seems to be in a bear grip. The technical analysis suggests, ATOM price continues to consolidate near to $10.00 but no signs of range expansion is visible. 

Technical levels

Resistance levels: $13.500 and $15.500

Support levels: $10.00 and $8.419

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.