- Cosmos price showcases a bullish stance.
- ATOM’s current resistance stands at $30.7.
- The altcoin’s support is near $28.8.
Cosmos (ATOM) exhibits an optimistic outlook today. That comes as bulls continue outperforming the bearish strength. For now, bulls try to regain control, targeting a break past the resistance of $30.7 as the altcoin touched $30.1.
The latest upsurge was somewhat encouraging as the previous week’s trading sessions had Cosmos recovering from the bearish influence. Moreover, the bullish strength increases gradually, and enthusiasts can expect further price improvements.
ATOM/USD 24Hr Timeframe: Cosmos Exhibits Bullish Bias as It Rallies to $30
The 1-day price analysis for Cosmos highlights a positive outlook for the token amid a substantial growth in the token’s value. The altcoin conquered the critical resistance zone at $28.9 amidst today’s early sessions, eyeing higher value areas. For now, ATOM explores $30.1, following a 6.23% gain within the past 24 hours.
The 1-day chart’s moving average stands at $28.2 due to the bullish activity since the past week. However, the SMA20 still hovers beneath the 50SMA. Furthermore, the Bollinger bands on ATOM/USD’s 24hr chart average $28.9.
The Bollinger Bands suggest high volatility for Cosmos price. The upper band stands at $32.4, representing ATOM’s resistance. Contrarily, the lower one at $25.4 shows the token’s support. Meanwhile, the Relative Strength Index stays at the neutral zone’s center, at index 49.
Further Technical Indications and Recent Developments
The 4hr chart shows Cosmos price rising again as bullish sentiment regained strength over the past few hours. ATOM’s price settled around $30.1 and seemed to have what it takes to surge further in the upcoming hours.
The four-hour timeframe shows the Moving Average at $28.7 as bulls succeeded in reversing the continued bearish trend. The upper Bollinger band stays at $30.1 while the lower one stands at $25.6, highlighting price fluctuation potential.
Final Thought
Cosmos price reveals a bullish stance for the day. That comes as bulls target recovering following long periods of losses. The altcoin has experienced impressive performance within the past four days, successfully reclaiming the $30.1 mark. Meanwhile, the bullish momentum may intensify in the upcoming hours, and ATOM can retest the resistance of $30.7 within the coming 24 hours.
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