Cosmos Price Prediction for 8th of October: ATOM/USD Finally Breaks Out From the $13.000 Price Level

The $13.000 price level has been a major price level in the Cosmos market. Between the 5th to the 7th of October, the candlestick patterns for those three days are very significant of a high level of market price gridlock between buyers and sellers. After three days of struggle, buyers in today’s market are now winning. ATOM/USD has been in a downtrend which started on the 17th of September. 

 Cosmos Market Price Statistic:

• ATOM/USD price now: $13.3279
• ATOM/USD market cap: $3,812,164,792
• ATOM/USD circulating supply: 286,370,297
• ATOM/USD total supply: Not Available
• ATOM/USD coin market ranking: #21

Key Levels

Resistance: $ 14.000, $15.000, $16.000 

 Support: $12.000, $11.000, $10.000

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Cosmos Market Price Analysis: The Indicators’ Point of View

The $13.00 price level is now becoming the support level for the new bullish trend of the Cosmos market. The downside performance of the market resulted from a very strong bullish move that started from the 14th to the 16th of September. The market actions brought the price to the $12.0000 price level before the price action bounced upward. However, the price was resisted at the $13.00 price level. According to the information gotten from the RSI, the bullish recovery has only been able to bring the market to the midrange of the indicator as the lines measures 49.7%. The MACD negative histograms are reducing in height. All indications of the MACD are still in the negative zone. But they are trying to recover to the positive side of the indicator.

ATOM/USD 4-Hour Chart Outlook 

Ever since the beginning of today’s trading session, Bulls have been having the upper hand. The market is making progress (steady progress) up above the new support level, although the momentum is not strong. The RSI measures 60% and the MACD lines are moving above the bullish histograms. In this small time frame, the market is bullish