Cosmos Price Prediction for Today, October 25: ATOM Awaiting a Breakup at $11 Level

Updated: 25 October 2022

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Cosmos awaits a breakout

ATOM/USD Price Analysis October 25

An increase in the sellers’ momentum may break down the $10 support level, Cosmos may reduce towards the support levels of $8 and $5. When the bulls’ momentum increase, it may break up the resistance level of $11 in which the resistance levels of $13 and $14 may be tested.

ATOM/USD Market:

Key Levels:

Resistance zone: $11, $13, $14

Support zone: $10, $8, $5

ATOM/USD Price Long-term Trend: Bearish

Cosmos is bearish on daily chart. The double top chart pattern formed at the resistance level of $16 on 17 September made the bearish trend strong in the Cosmos market. The former support levels of $14 and $13 have turned to resistance levels. The price descended to the low of $10 support level. The price bounced up and retest the resistance level of $11. The price started a consolidation within the $10 and $11 levels.

The coin has broken down the 9-day EMA and 21-day EMA, price is trading below the two EMAs at close contact. An increase in the sellers’ momentum may break down the $10 support level, Cosmos may reduce towards the support levels of $8 and $5. When the bulls’ momentum increase, it may break up the resistance level of $11 in which the resistance levels of $13 and $14 may be tested. Meanwhile, the Relative Strength Index period 14 is at 45 levels bending up to indicate buy signal.

ATOM/USD Medium-term Trend: Bearish

Cosmos is also bearish on the 4-Hour chart. The bearish momentum has reduced the price to the low level at $11. The bulls defend the support level of $11 and prevented further price decrease. The price bounced up and started a ranging movement within $11 and $10 levels.

The price is hovering over the 9-day EMA and the 21-day EMA with the two EMAs interlocked to each other and the price is moving over and around the two EMAs. The relative strength index period 14 is at 54 levels with the signal line point up to indicate an increase of ATOM price.

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