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ATOM Crashes Below $12 Level

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The Cosmos price prediction shows that ATOM failed to trade above the 9-day and 21-day moving averages as the coin heads to the downside.

Cosmos Prediction Statistics Data:

  • Cosmos price now – $9.5
  • Cosmos market cap – $2.7 billion
  • Cosmos circulating supply – 286.3 million
  • Cosmos Coinmarketcap ranking – #22


Key levels:

Resistance levels: $16.0, $18.0, $20.0

Support levels: $5.0, $3.0, $1.0

ATOM/USD falls below the 9-day and 21-day moving averages after touching the daily high of $12.31, which is now subject to price actions near the resistance level of $15. Meanwhile, as the bears step back into the market, the Cosmos price is likely to lose momentum to the lower side of the rising wedge.

Cosmos Price Prediction: ATOM/USD Not Yet Ready for the Upside

The Cosmos price may continue to face the south as the coin moves to cross below the lower boundary of the channel. Meanwhile, a bullish cross towards the upside is needed to correct the immediate bearish pressure and push the coin back on the recovery trend. If this works out, the upside could gain traction with the next focus on $16.0, $18.0, and $20.0 resistance levels.

On the downside, once the coin crosses into the negative side, it is likely for the support of $9.5 to be broken. Once this is done, the sell-off traction may gain with the next focus at the critical support levels at $5.0, $3.0, and $1.0 respectively. Consequently, the selling pressure may increase as the technical indicator Relative Strength Index (14) moves to cross into the oversold region.

ATOM/BTC Market: Cosmos Price Keeps Ranging

Against Bitcoin, the Cosmos price is moving in sideways as revealed by the daily chart. Meanwhile, any further low swing could bring the coin below the lower boundary of the channel to the support level of 4000 SAT and below. At the moment, the bears are likely to come into focus as the Relative Strength Index (14) may cross below the 40-level.

ATOMBTC-Daily Chart

On the contrary, a rebound may occur if the buyers could defend the current level at 6052 SAT and push it above the 9-day and 21-day moving averages, this could hit the potential resistance level of 8500 SAT and above.

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