ATOM/USD Touches $37 High – Cryptovibes.com – Daily Cryptocurrency and FX News
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Cosmos Price Analysis – January 1
Cosmos follows the bullish movement as the coin market benefits from increased buying pressure.
ATOM/USD Market
Key Levels:
Resistance levels: $40, $42, $44
Support levels: $28, $26, $24
ATOM/USD is trading near $40, after hitting resistance at $37 during the European session today. The coin may continue to rise if the price stays above the 9-day and 21-day moving averages. Meanwhile, Cosmos could end this week on a better note, as the price could touch the $40 resistance level. However, the current performance of the Cosmos (ATOM) is gradual and may inspire move bullish movement.
Cosmos Price Analysis: ATOM Price Keeps Moving Up
At the time of writing, the Cosmos is facing the upside as the coin moves within the bullish formation. However, the technical indicator Relative Strength Index (14) prepares to cross into the overbought region, there is a higher probability that ATOM may find resistance levels at $40, $42, and $44, but crossing below the 9-day and 21-day moving averages may locate the supports at $28, $26, and $24 respectively.
ATOM/BTC Market: Remains at the Upside
Against Bitcoin, ATOM continues to follow the upward movement as the coin witnesses another tremendous bullish movement today. However, the Cosmos price is trading well above the 9-day and 21-day moving averages at 766 SAT which could provide an additional resistance level for the next buying pressure as technical indicator Relative Strength Index (14) crosses into the overbought region.
After touching the resistance level of 777 SAT, ATOM/BTC price retreats to where it is currently trading. Therefore, traders may likely experience a downward trend if the price drops below the 9-day moving average. However, if this barrier can act as a solid line of defense against any further downtrend; the resistance level of 850 SAT and above may come into play.
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