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ATOMUSD ❕ small correctionATOM exited the descending channel and at the same time returned to the ascending channel. Trading volumes show interest in price growth. The asset is above liquidity. Locally, volatility has declined. The price broke through the upside of the 100MA (4H TF). Main MAs are bullish (1H TF) Price is in the overbought zone of the BB indicator (4H TF) TD Sequential has formed a reversal signal downwards (1H TF) Price and RSI show bearish divergence (30m TF) ATOM now has a good chance to go up, but from the current state we can expect a correction to follow, so I am considering a short if it fixes under the support level.
COINBASE:ATOMUSDShort
by Solldy
6
A Couple Alts For The Road Back in February, I wrote about why I thought ATOM could be headed back to $8. Since then, price declined by roughly 75% into a level where I've considered picking up some. Here is the original analysis: Here is my more recent post from May, showing why I speculated that alts would get completely annihilated. I'll admit, I did a bit of gloating. Getting out when I did saved me a huge amount in losses (in terms of unrealized gains). Although my hunch turned out to be correct, it doesn't mean I will continue to be right. In fact, the current market situation is quite challenging. No one "has the answer." A good investor will take all the information available to them and develop a plan that fits their own unique risk tolerance, and a strategy that will work whether they are "right" or "wrong." Anyway, why Cosmos? I think crypto projects are just a load of fluff, so I'm basically just gambling on these two to have a bit of hype resurgence. Sometimes the most hyped projects have the largest bounces, even if they ultimately fade to lower levels. I remember there being a lot of hype around all the airdrops on Cosmos, as well as some general positive sentiment. I still think ATOM could head down to $4 or lower. ALGO (on the right) is supposedly carbon negative, which I think has a lot of pull in the crypto space. I also still own some XLM and Nano, with XLM being my largest remaining crypto position. I'm buying coins that are usable, green, and developer-friendly. I do not expect them to appreciate drastically in value, so this is more of an experiment. There is serious risk with buying and holding altcoins for the long term, since they are almost guaranteed to perform poorly against Bitcoin. Even ETH failed to make a new ATH on its Bitcoin ratio. What does that say about ETH "competitors" like ALGO and ATOM? Or maybe....if ETH falters, something will take its place. It's very hard to figure out what would. Then it becomes a rabbit hole of trying to logically justify sustained long term price appreciation for any cryptocurrency. Just take a look at Bitcoin dominance. This could spell trouble for alts down the road. But it's also a promising sign - a new bull market does not begin with alts, it begins with Bitcoin. Anyone around in December 2020 when dominance was 70% will affirm this. Regardless, let's see if the market gan give some green over the coming weeks. Some bullish targets are shown in green on the above charts, while bearish targets are shown in red. I've decided to start with these two coins for now, and may double the positions should they drop lower. If alts decline by another 50% or more, even ETH will probably have a tough time recovering for years, so this is of course a speculative gamble and not meant as financial advice! This is just to show that although I'm skeptical of the crypto space, I still think there are opportunities to ride waves, as long as one doesn't remain entrenched in any particular way of thinking. -Victor Cobra
BINANCE:ATOMUSDLong
by VictorCobra
4
Falling Wedge Almost CompleteATOM forming a textbook falling wedge at the summer 2021 range lows. Two scenarios: (1) Breakout to the upside towards $12-15 resistance pretty soon (2) Brief breakdown below wedge (stop hunt) and swing around towards $12-15 shortly after Zoom out and keep the big picture in mind. The entire market is very extended to the downside in the near-term. A bear market rally, at the very least, should be expected. Inverting the chart can give you perspective as well.
COINBASE:ATOMUSDLong
by ZenTradesRW
Harmonic Pattern- DEEP CRAB - A great example on ATOM WEEKLY You can't get better than anything at this level when it comes to Harmonic pattern, it is complete Deep Crab pattern at 1.618 extension which also sits at a critical support level if u were to look back in time. That is price action has been respecting the support zone at D for quite some time. RSI has been sitting oversold same as Stochastic RSI, they have bottomed out, MACD is slowly becoming positive. On a weekly perspective this is a good set up for a green week- of course only when BTC dumps things are otherwise.
COINBASE:ATOMUSDLong
by Moemony
ATOM/USD 1D. The situation right now on the coin.#ATOM/USD 1D Binance. Updated the coin idea. I made a "global" analysis and described the situation for you. Now I will describe it in text here. Pay attention to the interesting name of the coin - COSMOS (ATOM) . Here is an analogy similar to Terra (Luna). I think everything is clear here. The cosmos is big, the Atom is small (the particle that makes up the Cosmos and our material world as a whole). Hyperlink left the project page in CoinMarketCap. This coin has been in accumulation since 2019 (history from the Binance exchange chart). Accumulation ~ 2 years. After accumulation, an impulse occurred, the distribution began exactly near the accumulation goal (the average distribution price is the exact accumulation goal). Showed on the graph. Also note how clearly the price "respected" (that is, reacted) to this level afterwards (a clear retest when breaking the distribution). I also painted it on the chart. After leaving the accumulation, a large horizontal channel began to form (shown on the chart). Similar to Bitcoin (consolidation/sideways with lower and upper boundaries). After the distribution in this horizontal channel (shown on the chart - Distribution), the price has clearly reached the goal of this distribution (also displayed on the chart). An ascending triangle (rising lows and a flat top) was also formed in this large channel, which was subsequently broken down. If this triangle works out, its goals are shown on the chart. It is also worth noting that from the minimums of the accumulation, an upward trendline (purple) began to form, which was very jewelerishly broken down just when leaving the accumulation. There was a retest of this trendline. All this is shown on the chart. After the breakout and retest of the ascending trendline from the bottom up, a descending trend of the secondary trend began to form (red on the chart, also designated it - the secondary trend line). If there is a breakdown of this trend - a reversal of the secondary trend to an upward one (breakout + the proof of breakout / retest). Now the price is consolidating in a small range at the lower border of the large horizontal channel (possibly a repeat as in the summer of 2021). Pay attention to this point on the chart. The price from the average values of a large accumulation is still at a good profit (now 155% as shown). That is, those who have accumulated are still in the black. Therefore, there is still a place to sell. Also note that the volume gradually began to appear. And what this volume was at the peak of the fall (capitulation). Potential levels from below as well as from above are shown on the chart.
BINANCE:ATOMUSD
by TradingTsar
Cosmos a.k.a. ATOM - 1 Month Ahead Trading Idea - 21 May 2022COINBASE:ATOMUSD in the past 50 days made a big decline of over 75% and its a good moment for accumulation in the short-medium term time frame. Good news coming out for the ATOM ecosystem and a potential upside of 100% is very likely to happen even in 1 month period. What is the supported thesis technically for the expected scenario on ATOM? - There are big liquidation holes to be filled upside and the first strong resistance is at $22.00 per coin - The MACD indicator hits low points and soon will start its explosive on the upside - Wedge concentrate price action and soon will break out with huge price action - Breaking of downside dynamic trendline should be a reality in the beginning of June If you have any questions related to this trading idea I will be happy to provide you with answers.
KRAKEN:ATOMUSDLong
by TradingTie
1