ATOM: Approaching Resistance
Cosmos (ATOM) technical analysis:
Trade setup: Price has bounced off of $8.50 support and broke back above $10 resistance, however another resistance looms ahead: 200-day moving average at $11. If it breaks above that, it would make a Higher High and signal trend reversal to Uptrend.
Trend: Uptrend on Short-Term basis and Downtrend on Medium- and Long-Term basis.
Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance: Nearest Support Zone is $8.50. The nearest Resistance Zone is $10.00 (previous support), then $12.50.
Trade setup: Price has bounced off of $8.50 support and broke back above $10 resistance, however another resistance looms ahead: 200-day moving average at $11. If it breaks above that, it would make a Higher High and signal trend reversal to Uptrend.
Trend: Uptrend on Short-Term basis and Downtrend on Medium- and Long-Term basis.
Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance: Nearest Support Zone is $8.50. The nearest Resistance Zone is $10.00 (previous support), then $12.50.
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