Cosmos Price Analysis: ATOM Up By 2.96%, Time to Buy?


  • ATOM gained approximately 2.96% within the last 24 hours.
  • ATOM/USD pair trading below EMA(20).
  • ATOM’s intraday volume stands at $306,443,105.00.
  • Cosmos currently trades near $11.53

29 February 2024 : In this article we will walk you through Cosmos price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Cosmos, Is ATOM a good investment? Cosmos support & resistance levels etc. But before diving deep into the ATOM technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $2,270,459,173,853. The total trading volume stands at $155,608,056,446. Bitcoin shares 53.01 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price rising to $61,240.58 level after an upward movement of 1.47%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 1.07 percent reaching to $3,348.99 during the previous 24 hours.
While publishing this blog, BNB traded at $402.25, following a price change of -1.46%within the same time frame. SOL the native coin of Solana is up by 12.08 and currently trading at $127.33. Additionally, XRP reached $0.60 after seeing a uplift of 4.54% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Cosmos Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Cosmos (ATOM)

ATOM Resistance Levels ATOM Support Levels
Resistance Level 1 $12.70 Support Level 1 $10.77
Resistance Level 2 $13.56 Support Level 2 $9.70
Resistance Level 3 $14.63 Support Level 3 $8.84

Cosmos Performance

According to PriceAnalysis Market Index, Cosmos (ATOM) is trading at $11.53 with a trading volume of $306,443,105.00. However,ATOM has seen a price increase of 2.96% in the last 24 hours.ATOM price changes 16.4% over the week with a total market capitalization of $4,479,809,027.00 USD.

Cosmos Price Analysis

ATOM price analysis for 29 February 2024 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Cosmos.

Moving Averages Price Indicator
Simple Moving Average (10) 12.07 Sell
Exponential Moving Average (10) 12.14 Sell
Simple Moving Average (20) 12.46 Sell
Exponential Moving Average (20) 12.46 Sell
Simple Moving Average (50) 13.38 Sell
Exponential Moving Average (50) 13.34 Sell

The Relative strength index (RSI) for ATOM Coin is currently hovering at 42 for 14-days average line, which means ATOM is in consolidation zone right now. While ATOM’s Williams %R indicator is at -34.602 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. The immediate resistance level for ATOM prices is at the psychological mark of $12.70. If everything goes well the coin might try to break above $13.56 mark. Conversely, the broken trend line might bring the price back to $10.77 support level. The ATOM/USD Moving Average Convergence and Divergence (MACD) indicator is indicating a short-term buy signal as the MACD line is moving above Signal Line Which means bulls are dominating in the market.

Conclusions

As of now, Cosmos is doing well and is attempting to break out of the reddish zone. In order to invest in the digital currency, crypto investors want to see the ATOM move into the positive zone. As far as we can tell, Cosmos is on its way up. In 2022 and beyond, the Cosmos price has a significant likelihood of rising. It's important that you do your own research before making a decision on whether or not this is a smart investment for you.