ATOM is bullish
ATOMUSD Price Analysis – September 12
ATOM may break up the resistance level of $17 provided the bulls increase their pressure; above it are $19 and $21 resistance levels. Should the $17 resistance level holds, the price may decrease to the support level at $13, further increase in the bears’ pressure may push down the price to $8 level.
ATOM/USD Market
Key levels:
Resistance levels: $17, $19, $21
Support levels: $13, $10, $8
ATOMUSD Long-term Trend: Bullish
ATOMUSD is bullish on the daily chart. When Cosmos price reached the low of $5 on June 18. The bear’ momentum failed. Buyers takes over the market and price soars to the high of $13 with strong bullish momentum. It consolidates for few days. The bulls gain more pressure and it breaks up the resistance level of $13. It increases and tested $17 level.
The price is trading above the two EMAs as a sign of bullish movement but the fast Moving Average (9 periods) and the slow Moving Average (21 periods EMA) are separated. Cosmos may break up the resistance level of $17 provided the bulls increase their pressure; above it are $19 and $21 resistance levels. Should the $17 resistance level holds, the price may decrease to the support level at $13, further increase in the bears’ pressure may push down the price to $8 level.
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ATOMUSD medium-term Trend: Bullish, TAMA Explodes Skywards
ATOMUSD is bullish in the 4-hour chart. The bears lost their momentum when the price reaches the support level at $5; the price could not decrease further. Buyers are gaining momentum in the Cosmos market. The bulls are in control of the Cosmos market pushing up the coin and tested the $17 level.
The two EMAs are separated from each other and the currency pair is trading above the 21 periods EMA and 9 periods EMA which indicates that bullish movement is in progress. The relative strength index period 14 is at 74 levels and the signal lines pointing up to indicate buy signal.
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