ATOM/USD Gains Over 22% as the Price Touches $29.4 – Cryptovibes.com – Daily Cryptocurrency and FX News
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ATOM Price Analysis – December 22
The Cosmos price is moving towards a bullish path and later breaks above the 9-day and 21-day moving averages.
ATOM/USD Market
Key Levels:
Resistance levels: $35, $37, $39
Support levels: $20, $18, $16
ATOM/USD price is now trading close to $30 as the coin touches the daily high at $29.4 resistance in the early hours of today. However, the Cosmos price may continue to follow the uptrend if the price crosses above the upper boundary of the channel. Meanwhile, ATOM/USD may close the week on a better note as the price could still touch the resistance level of $30. But the current performance of ATOM/USD is progressive and could give room for more investments.
Cosmos Price Analysis: ATOM/USD May Launch into the Upside Heavily
Looking at the daily chart, the Cosmos price is maintaining an uptrend above the 9-day and 21-day moving averages. In addition, the technical indicator Relative Strength Index (14) signal line is moving to cross above 60-level. Therefore, there is a higher chance that ATOM may likely hit the potential resistance levels at $35, $37, and $39 but the downside may be located at $20, $18, and $16 support levels.
ATOM/BTC Market: Price Keeps Ranging
When compares with BTC, after slight drops in the past few days, the ATOM price is currently hovering at 589 SAT as the coin prepares to move up higher by crossing above the upper boundary of the channel. The long-term moving average may likely make a bullish cross but currently, the market is following the upward trend.
From above, if the buyers can push the price above the channel, higher resistance could be located at 700 SAT and above. On the contrary, should the bulls fail to move it above the channel, then, the nearest support level could be toward the downside locating the support at 400 SAT and below as the technical indicator Relative Strength Index (14) moves to cross into the overbought region, which shows that more bullish signals may be coming into play.
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