Cosmos (ATOM) Increases By 7.76%
Login

Cosmos (ATOM) Increases By 7.76%

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more



The Cosmos token has landed today in the second position as the cryptocurrency with the second most movement so far. The token’s price has increased by 7.76% today. However, this doesn’t guarantee that more movements will follow. To that effect, let’s take a closer look at the market for insights.

Cosmos Statistics:
Current ATOM Value: $8.55
ATOM Market Cap: $3,313,954,032
Cosmos Circulating Supply: 390,930,671
Cosmos Total Supply: 390,930,671
ATOM CoinMarketCap Rank: 29

Key Price Levels:
Resistance: $9.00, $10.00, and $11.00
Support: $8.00, $7.00, and $6.00

Cosmos (ATOM) Increases By 7.76% ATOM’s Price Action Is Trying to Pick up Toward the $9.00 Mark

Price activity in the Cosmos market crashed significantly over the previous session. The most significant of those crashes was seen on the 12th and 13th of April. Ever since the market has obtained support at the 78.70 Fibonacci Retracement Level. At this point, a pattern has formed, suggesting that the market is making a second attempt to rise considerably higher.

The current session has brought the market above the green Guppy Multiple Moving Average (GMMA) curves. Also, the Stochastic Relative Strength Index (SRSI) indicator lines have performed a bullish crossover, and the lines of the indicator have risen above the 70 mark. With the coin now trading above most of the green GMMA lines, traders can still aim higher by using crypto signals with higher targets.

Cosmos (ATOM) Increases By 7.76% Cosmos May Have Secured the Needed Push for Further Price Increase

In the ATOM 4-hour market, we can see that price activity now lies above the GMMA indicator lines. However, it is worth noting that price movement has seen a considerable volatility decline, considering the size of the last two price candles on the chart.

At the same time, the SRSI indicator lines are too dilated for such a minimal price increase. Consequently, the exaggerated movement of the SRSI indicator lines may be hinting that the market may not experience too much movement from here on out. Therefore, for traders who might want to target higher price levels, picking a target at the $9.00 mark may still prove reasonable.

Trade crypto coins on AvaTrade

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News