COSMOS – ALTCOIN CHART ANALYSIS

Cosmos (ATOM) is still in a downtrend but is now slowly starting to stabilize somewhat. After the price slide in the last few days, this is not really surprising.

We are currently trading at around USD 6.50 and thus below the 4H-EMA ribbons. Trading volume is slowly but surely picking up again and buying interest seems to be picking up a bit.

Now it is important that we can leave the 4H-EMA Ribbons behind to get some more stability in the market. If we manage to do this, a bottoming out and consolidation phase could be imminent.

We have now reached an interesting price level on the daily chart. We had enormous problems breaking out of this green zone in 2020 and were only finally able to leave this zone in 2021.

We are now at the upper end of this zone, which could also represent a retest. It is now important for ATOM that we consolidate at most something here and don't stay there any longer.

Otherwise, the former resistance could become resistance again and it could take weeks or months before we leave this zone.

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