Cosmos Price Analysis: ATOM Up By 2.59%, Time to Buy?


  • The EMA(50) is currently at $13.09.
  • 24-hour trading volume for Cosmos is hovering at $340,818,581.00.
  • Support for the bears has been established at $12.05
  • ATOM price flashes signs of bearishness on 7-days price chart.

03 October 2022 : 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 -1.34 percent, bringing the entire cryptocurrency market to $942,115,587,651. The total trading volume stands at $54,833,502,933. Bitcoin shares 39.77 percent of the entrie market while Ethereum has a dominance of 16.12%.
which resulted in Bitcoin's price rising to $19,547.55 level after an upward movement of 1.86%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 2.3 percent reaching to $1,326.36 during the previous 24 hours.
While publishing this blog, BNB traded at $288.62, following a price change of 2% within the same time frame. XRP the native coin of XRP is down by -0.52 and currently trading at $0.46. Additionally, Cardano reached $0.43 after seeing a uplift of 0.58% 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 $14.50 Support Level 1 $12.05
Resistance Level 2 $15.91 Support Level 2 $11.01
Resistance Level 3 $16.95 Support Level 3 $9.60

Cosmos Performance

According to PriceAnalysis Market Index, Cosmos (ATOM) is trading at $12.84 with a trading volume of $340,818,581.00. However,ATOM has seen a price increase of 2.59% in the last 24 hours.ATOM price changes -8.22% over the week with a total market capitalization of $3,675,985,916.00 USD.

Cosmos Price Analysis

ATOM price analysis for 03 October 2022 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) 13.34 Sell
Exponential Moving Average (10) 13.22 Sell
Simple Moving Average (20) 14.07 Sell
Exponential Moving Average (20) 13.94 Sell
Simple Moving Average (50) 13.11 Sell
Exponential Moving Average (50) 13.09 Sell

In accordance with the conventional pivot, the crucial immediate resistance for ATOM may be found at $14.50, followed by $15.91. In the meantime, the cryptocurrency's support levels were located at $12.05 and then $11.01. While ATOM’s Williams %R indicator is at -93.443 for the 14-day time period indicating a oversold condition and short term trend reversal is possible. Bulls can move the market in upward direction. The ATOM/USD Moving Average Convergence and Divergence (MACD) indicator is indicating a short-term sell signal as the MACD line is moving below Signal Line Which means bears are dominating in the market. RSI implying near oversold phase while trading at 37 and is trying to break out of the bearish zone.

Conclusions

ATOM price is moving in sideways direction. The battle between the bulls and the bears can result in moving the coin price in either direction. However, The investors are waiting for Cosmos to make a one directional move to make a good entry in the market.