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ATOM is bullish
ATOMUSD Price Analysis – August 29
Cosmos may break above the resistance level of $13 provided the bulls increase their pressure; above it are $17 and $19 resistance levels. Should the $13 resistance level holds, ATOM may break down the support level at $10 further increase in the bears’ pressure may push down the price to $8 and $5.
ATOM/USD Market
Key levels:
Resistance levels: $13, $17, $19
Support levels: $10, $8, $5
ATOMUSD Long-term Trend: Bearish
ATOMUSD is bearish on the daily chart. Cosmos price reached the high of $29 on May 09. The price falls to the low of $8 with strong bearish momentum. The coin pulled back to retest the broken level. Further increase in the sellers’ pressure reduced the price to the $5 support level. The bulls defended the support level of $5, thus, prevented further price reduction. The coin bounced up and broke up the $10 resistance level. Last week, the resistance level of $13 was tested. It is pulling back at the moment.
The price is trading below the two EMAs as a sign of bearish movement but the fast Moving Average (9 periods) and the slow Moving Average (21 periods EMA) are interlocked. Cosmos may break above the resistance level of $13 provided the bulls increase their pressure; above it are $17 and $19 resistance levels. Should the $13 resistance level holds, the price may break down the support level at $10 further increase in the bears’ pressure may push down the price to $8 and $5.
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ATOMUSD medium-term Trend: Bearish, TAMA Is Extremely Cheap Right Now
ATOMUSD is bearish in the 4-hour chart. The coin is experiencing a pressure from the sellers. The bears lost their momentum when the price reaches the support level at $5; the price could not decrease further. At the moment of writing this report, the bears are gaining more momentum to pushing down the coin to break the support level of $10.
The two EMAs are separated from each other and the currency pair is hovering below the 21 periods EMA and 9 periods EMA which indicates that bearish movement is in progress. The relative strength index period 14 is at 43 levels and the signal lines pointing up to indicate buy signal.
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