ATOM – ALTCOIN CHART ANALYSIS

ATOM (Cosmos) is also an altcoin that has benefited less from the altcoin hype. Here we continue to form a nice uptrend (yellow), which has always been a good support point.

We are currently trading at around USD 29.00 and thus above the important 200 SMA (last 200 average prices/purple) and the monthly resistance P. A confirmation of this former resistance as support would be desirable.

Otherwise we can see that slowly but surely some more volume is coming into the market and the chances at ATOM are high that we could at least move into the resistance area around USD 32.00.

Finally, we can see a small trend reversal on the daily chart. Trading volume is making new highs and is steady. A first sign that we might break out.

It is also important that we are still in an uptrend, which has been confirmed by higher highs and higher lows. The chart is very similar to that of Bitcoin over the past year.

The RSI is up and the trend is holding. Thus, at ATOM we can assume that as soon as we break through and possibly confirm the region around USD 32.00, we could start a pump.

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