Cosmos price analysis: ATOM/USD to break the $36 resistance

TL; DR Breakdown

• Yesterday’s Cosmos price analysis chart followed a good trend.
• Our daily Cosmos price analysis is bullish.
• Bulls aims to surpass $36.

Cosmos price analysis: General price overview

Yesterday’s Cosmos price analysis chart followed a good trend. However, ATOM/USD selling pressure halted the upswing when the daily rice analysis chart set in, causing prices to plunge sharply to the lowest level on the daily price analysis chart at $32.5. The bulls appeared to be strategizing an attack that might reverse the downward trajectory. The bulls congregated in large numbers and amassed sufficient force to establish firm support, which reversed the bearish trend and caused ATOM/USD price surge.

Source: Coin360

The cryptocurrency market is bullish as the green bars outnumber the red bars on the heatmap. The largest digital asset is trading in a slightly bullish trend, recording more than three percent gain from yesterday’s price. Bitcoin seems to be eyeing the $50K mark. Ether is also trading in a positive trend, recording a 2 percent price surge, and it is currently trading a few dollars below $3.5K. However, things are different on the ATOM/USD side as it trades in a negative trend, recording more than a 3 percent price dip. 

ATOM/USD 4-hour chart: ATOM prepares for another rally?

On the 4-hour Cosmos price analysis chart, the ATOM/USD looks to close bullish in preparation for further upside over the next 24 hours.

Our daily Cosmos price analysis is bullish, as the market rebounded from the lower Bollinger Band and tested $32 support following a bearish weekend, indicating that we are optimistic for ATOM/USD to advance higher as it aims to break above the daily resistance.

Cosmos’s price prediction is bullish today as a slightly higher low was set over the last 24 hours.

Since the previous major swing high at $34 was broken earlier this month, the overall market structure has turned bullish again, and we can expect a lot more upside past the current high of $37 set yesterday.

However, after a strong rally early yesterday, the bulls were exhausted, failing to see much further upside above the $30 mark. Over the past few days, Cosmos’s price has established strong support, from which we should see a rally higher over the next 24 hours, with the $36 resistance as the next target. 

Cosmos Price Analysis: Conclusion 

Cosmos price analysis is bullish for today as a slightly higher low was set overnight after a brief spike higher. Since bulls have regained control today, we expect ATOM/USD to continue moving higher and try to reach the next resistance at $36 next.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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