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Bullish Momentum Regulates as Cosmos Hovers Near $10:20

Published Nov 18, 2022 02:15PM ET Updated Nov 18, 2022 02:30PM ET
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Bullish Momentum Regulates as Cosmos Hovers Near $10:20
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  • Cosmos price analysis suggests an upwards movement for today
  • Price levels gain stability as the price goes above the $10.00 level
  • Support level is present at $9.89 at the time of writing.

Cosmos price analysis is giving bullish signals today, as the price is currently trading at $10.20 and shows signs of a potential increase. The price level is gaining stability, with an upwards trend supported by higher volumes over the past few days. At the moment, support is fixed at $9.89, and traders will be watching closely to see if this level can hold steady in the face of increasing market volatility. The resistance level is at $10.22, and we could see some major price movements in the coming days as trading activity picks up.

ATOM/USD price chart:Coinmarketcap

The ATOM/USD opened today’s trading section with the bears sitting at the $9.94 level. However, over the past few hours, we have seen a steady increase in prices and volumes. The bulls have managed to push the price level above $10.00, giving some optimism for the rest of the day’s trading session.

The given one-day price chart for Cosmos price analysis is depicting cryptocurrency value as going in a bullish direction. The day has been quite supportive for the buyers as more and more green candlesticks are securing their positions on the price chart. The Altcoin has gained 1.89% in the past twenty-four hours, and analysts are predicting it to continue with this momentum over the rest of the day.

ATOM/USD daily chart:TradingView

The bulls are progressing at a very slow pace as the moving average (MA) is still ahead of the current price i.e. at $9.94. The Bollinger bands are widening and respecting the recent price movements, with the upper band at $10.15 and the lower band at $9.30. The RSI has been trading in the oversold zone ever since the price of ATOM/USD flew past $10.00, and this can be seen as a positive signal for the buyers.

Looking at the four-hour price chart for ATOM/USD reveals a similar trend as the one-day trading session, as the circumstances have been highly favorable for the bulls from the past several hours as the bulls are dedicated to crossing the $10.22 resistance.

The indicators are confirming that upward momentum is present, with bearish pressure still challenging the bulls, as the volatility continues to increase. With the volatility continually increasing, the upper Bollinger band value has gone up to $10.30, and its lower band has moved down to $9.00, during the past four hours. As the chances have been high for the bulls, the RSI score has also increased as a result and is now placed at 56 positions.

ATOM/USD 4-hour chart:TradingView

To sum up, overall market sentiment appears to be bullish for the price of Cosmos, and traders will be watching closely to see if the price can break above $10.22 in today’s trading session.

The post Bullish Momentum Regulates as Cosmos Hovers Near $10:20 appeared first on Coin Edition.

See original on CoinEdition

Bullish Momentum Regulates as Cosmos Hovers Near $10:20

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