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ATOM

Potential Falling Wedge Formation on ATOM/USDT 1D ChartGreetings traders! I would like to bring your attention to a notable chart pattern forming on the ATOM/USDT 1D chart. The price has been consolidating within a significant falling wedge pattern, which is yet to experience a breakout. It is essential to closely monitor this pattern as it has the potential for a significant price movement. Key Observations: 1)Long-Term Support Trendline Break: The price has recently breached a long-term support trendline, indicating a bearish sentiment. This breakdown adds to the significance of the falling wedge pattern and the importance of monitoring its potential breakout. 2)Resistance at Midrange: Currently, the price is below the midrange level, which acts as a strong resistance zone. This reinforces the importance of waiting for a decisive breakout from the falling wedge pattern before considering bullish positions. 3) The price has reached the upper resistance trendline of the falling wedge pattern but encountered selling pressure and was unable to break above it. This rejection emphasizes the significance of the resistance zone and adds further importance to monitoring the pattern's breakout for potential bullish opportunities. Positive Signals: 1)Stochastic RSI Cross Up: A recent bullish crossover has occurred on the Stochastic RSI indicator, marked by a white circle. This suggests a potential shift towards bullish momentum in the price action. 2)Relevant MACD Cross: The MACD indicator has shown a bullish crossover (M↑ symbol in blue), indicating a potential trend reversal or the initiation of a new bullish phase. Please note that the analysis shared here is for informational purposes only and should not be considered as financial advice. It is always recommended to perform your own analysis and consider other factors before making any trading decisions. Remember to trade responsibly and stay updated with the latest developments in the market. Happy trading! Disclaimer: This content is intended for educational and informational purposes only. Trading involves substantial risk and is not suitable for all individuals. Past performance is not indicative of future results.
by Trading_Paradise
Cosmos ATOM price behaves "out of the box" are you expecting 🚀?First, let's look at the global chart of ATOMUSDT trading history As you can see, the price entered the medium- and long-term buying zone six months ago. It was followed by a good 80% increase in the price of ATOM, and for the past few months, it has been consolidating around the important $10.65 level. In recent days, the ATOMUSD price has been quite well bought back and has not fallen down after BTC. Even if we assume that the consolidation of the Cosmos token price will continue for several months (white scenario), there is still a +30% growth potential within the consolidation. The critical level from above is $14.50 If buyers manage to break through and gain a foothold above $14.50, there will be space for growth to $20 _____________________ Did you like our analysis? Leave a comment, like, and follow to get more
by P_S_trade
26
ATOM next support zonesThe ATOM chart appears to be relatively straightforward at the moment. If it breaks the $10 support level, we can anticipate a potential decline to the next demand zones, which are situated at around $8.43 and $5.55. I recommend exercising patience and waiting for the price to reach the demand zones before making any investment decisions. By doing so, you may be able to purchase at a lower price and achieve a more profitable return. In my opinion, it is better to buy in strong zones rather than pivots.
by Lamassu_Trade
Cosmos (ATOM) analysis: New rubric "Where is the BOTTOM?"Hello, everyone! Let's continue to analyze fundamentally strong crypto assets which I am going to buy at the very bottom. Now it's time to predict where the bottom for ATOM is gonna be. Using trading chaos approach I defined the Elliott waves with the order you can see on the chart. You can tell me that wave 2 is too deep, but I have the evidence that it's correct. Look at the Fibonacci extension 1.61 - the natural wave 3 target. Price has reached this target perfectly. After that price has printed the wave 4 which is represented as a triangle correction. I think now ATOM is in wave 5 because it broke down the key fractal level. The most important question: where is the gonna be the bottom. My answer is $3. There I will buy ATOM for the new bull run. This target was calculated according to the Tom Joseph's methodology. Bill Williams linked to his approach that's why I use it here. Best regards, Ivan ________________________________ Follow me and never miss update👍
Short
by Skyrexio
2