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ATOM/USD Gains More Than 3% to Start 2023

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The Cosmos price prediction is seen breaking above the $10 resistance level as ATOM trades bullishly above the moving averages.

Cosmos Prediction Statistics Data:

  • Cosmos price now – $10.1
  • Cosmos market cap – $2.8 billion
  • Cosmos circulating supply – 286.3 million
  • Cosmos Coinmarketcap ranking – #21

ATOM/USD Market

Key levels:

Resistance levels: $14, $15, $16

Support levels: $8, $7, $6

ATOMUSD – Daily Chart

ATOM/USD is seen refreshing to a new daily high as the coin heads to the upside to trade close to the resistance level of $12. Meanwhile, the coin is currently trading at $10.1 with a bullish movement above the 9-day and 21-day moving averages. In the meantime, if the coin slides below the moving averages, sellers could return to the market, but the bulls are likely to collect more on the price dips.

Cosmos Price Prediction: Cosmos (ATOM) Could Gain More Uptrends

The Cosmos price can only begin the upward movement if the newly touched $10.11 resistance level is maintained at all costs. At the moment, the technical indicator Relative Strength index (14) is crossing above the 60-level as the signal line points to the north to encourage more buyers. However, Cosmos (ATOM) can now begin to maintain the uptrend as soon as the coin crosses above the upper boundary of the channel.

Nonetheless, if the red line of the 9-day MA remains above the green line of the 21-day MA, the Cosmos price could perform well and may reach the resistance levels at $14, $15, and $16 respectively. Meanwhile, if the market price slides and faces the south, there may be a bearish drop which could roll the coin down to the support levels of $8, $7, and $6 respectively.

Against Bitcoin, the Cosmos price is hovering above the 9-day and 21-day moving averages as the price touches the daily high at 6189 SAT. However, the technical indicator Relative Strength Index (14) is crossing into the overbought region as the coin aims for more uptrends.

ATOMBTC-Daily Chart

Moreover, the potential resistance level is located at 7300 SAT and above, but a lower sustainable move may cancel the bullish movement and could attract new sellers coming into the market with the next focus on the support level of 5100 SAT and below.

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