ATOM Likely to Step Above $12, TAMA to the Moon!

The Cosmos price is recovering from the daily opening price at the $11.7 level as the price continues to fluctuate.

Cosmos Prediction Statistics Data:

• Cosmos price now – $11.8
• Cosmos market cap – $3.3 billion
• Cosmos circulating supply – 286 billion
• Cosmos Coinmarketcap ranking – #22

ATOM/USD Market

Key Levels:

Resistance levels: $14, $15, $16

Support levels: $10, $9, $8

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ATOM/USD is trading around the 21-day moving average after touching the daily high at the $11.9 resistance level. At the time of writing, Cosmos is changing hands at $11.8, having gained over 0.77% since the beginning of the European session. However, with latest the recovery, the digital asset is likely to cross above 9-day and 21-day moving averages to increase the bullish movement.

Can ATOM Break Above $11 as TAMA Jumps Northwards?

The Cosmos price is likely to cross above the 9-day and 21-day moving averages at the price level of $379.19. However, if the bulls push the coin to the upside, ATOM/USD may touch the resistance levels of $14, $15, and $16 to keep the price on the upside. In other words, any strong selling pressure below the 21-day moving average may drag the price towards the lower boundary of the channel if the bears step back into the market.

However, should in case Cosmos trade below the moving averages, a bearish continuation could bring the price to the supports of $10, $9, and $8. Meanwhile, the technical indicator Relative Strength Index (14) is likely to head towards the 60-level and this could indicate a possible bullish movement.

Against Bitcoin, the Cosmos price is likely to head to the south as the coin moves above the 9-day and 21-day moving averages. However, following the recent positive sign, the current market movement may begin to follow an uptrend if the buyers push the price above the upper boundary of the channel.

Moreover, as the technical indicator Relative Strength Index (14) remains above the 60-level, once it increases the bullish pressure, the market price could hit the resistance level of 720 SAT and above. Meanwhile, a retest below the 9-day and 21-day moving averages could lower the price to the support level of 550 SAT and below.

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Related:
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