ATOM/USD Sets to Touch $30 Resistance – Cryptovibes.com – Daily Cryptocurrency and FX News
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Cosmos Price Analysis – December 29
The Cosmos price moves to the upside as the coin hovers around $27 resistance level.
ATOM/USD Market
Key Levels:
Resistance levels: $32, $34, $36
Support levels: $20, $18, $16
According to the daily chart, ATOM/USD could hit the $30 resistance level in the next positive movement. The difficult period seems to be over for this crypto as it tries to focus on the upside. However, the Cosmos price is currently trading at $27.42, although the coin touches the daily high at $47.57 after recovering from the daily low of $25.15, it could probably retest this level again before it rising higher.
Cosmos Price Analysis: ATOM/USD Ready for the Higher Levels
Looking at the daily chart, the Cosmos price is seen moving to cross above the 9-day moving average. It is apparent that a break above this barrier could encourage more buyers to increase their entries, eventually pushing the price to hit the resistance levels of $32, $30, and $28. On the downside, once the price breaks below the 21-day moving average, the sell-off could gain traction with the next focus toward the lower boundary of the channel.
Moreover, if the support level of $25 is broken, the downside pressure may increase while the next supports may be created around $20, $18, and $16 respectively. The technical indicator Relative Strength Index (14) is likely to remain above 50-level, to give additional bullish signals.
ATOM/BTC Market: Price Keeps Moving Sideways
When compares with Bitcoin, the Cosmos price remains above the 9-day and 21-day moving averages as the coin range-bounds. However, a daily close above the resistance level of 600 SAT may encourage the bulls to extend the rally towards the resistance level of 650 SAT and above.
In other hand, a close below the moving averages could reverse the Cosmos price direction towards the lower boundary of the channel and a further bearish movement could take the coin to the support level of 500 SAT and below. Meanwhile, there is a possibility that ATOM/BTC may continue the bullish trend as the technical indicator Relative Strength Index (14) is likely to cross above 60-level with the signal line pointing to the north.
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