Mo.bi - Crypto Currency Tracker logo Mo.bi - Crypto Currency Tracker logo
Cryptoknowmics 2022-09-20 13:10:39

ATOM Technical Analysis: Uncertainty Rises Above 200-Day EMA

The ATOM technical analysis shows the buyers reclaiming dominance over the 200-day EMA and the $15 mark. But will the uptrend sustain this month? The ATOM price action bullish reversal rally from a long-coming support trendline in the daily chart resulting in a price jump above the 200-day EMA. Furthermore, the rise in intraday trading volume supports the bull cycle, projecting a potential trend continuation to $20. However, the increased selling pressure above the EMA warns of a downfall. Key Points: The Cosmos prices show higher price rejection above the 200-day EMA. The market value sustains above the $15 mark for now. The intraday trading volume in Cosmos is $616 Million. Source-Tradingview ATOM Technical Analysis The ATOM price displays a bullish reversal from the crucial daily support trendline resulting in a 48% jump over the past three weeks. The bullish rally beats the 50-day EMA and influences a crossover between the 50 and 100-day EMAs to regain positive alignment. However, the price faced increased selling pressure above the $15 mark resulting in a retracement to $14.5 twice this fortnight. Currently, the prices display a bullish attempt to sustain above the 200-day EMA and the $15 mark. With sustained selling, the ATOM price will tumble 13.2% and retest the neckline support of the double bottom pattern. A bearish breakdown from this support will accelerate the bearish momentum and offer a breakdown attempt from th...

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.