ATOM Price: Buyers Prevail Over Sellers, The Sky Is the Beginning for TAMA

Original author: Azeez Mustapha

ATOM is bullish

ATOMUSD Price Analysis – September 09

ATOM may reach the resistance level of $17 provided the bulls increase their pressure; above it are $19 and $21 resistance levels. Should the $17 resistance level holds, the price may break down the support level at $13 further increase in the bears’ pressure may push down the price to $10 and $8.

ATOM/USD Market

Key levels:

Resistance levels: $17, $19, $21

Support levels: $13, $10, $8

ATOMUSD Long-term Trend: Bullish

ATOMUSD is bullish on the daily chart. Cosmos price reached the low of $5 on June 18. The price soars to the high of $13 with strong bullish momentum. The coin pulled back to retest the broken level. Further increase in the buyers’ pressure increase the price to the $13 resistance level. The bears could not defended the support level of $13, thus, the mentioned level was broken upside. The coin is expose to the resistance level of $17 at the moment.

The price is trading above the two EMAs as a sign of bullish movement but the fast Moving Average (9 periods) and the slow Moving Average (21 periods EMA) are separated. Cosmos may reach the resistance level of $17 provided the bulls increase their pressure; above it are $19 and $21 resistance levels. Should the $17 resistance level holds, the price may break down the support level at $13 further increase in the bears’ pressure may push down the price to $10 and $8.

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ATOMUSD medium-term Trend: Bullish

ATOMUSD is bullish in the 4-hour chart. The coin is experiencing a pressure from the buyers. The bears lost their momentum when the price reaches the support level at $5; the price could not decrease further. At the moment of writing this report, the bulls are in control of the Cosmos market pushing up the coin towards the $17 level.

The two EMAs are separated from each other and the currency pair is trading above the 21 periods EMA and 9 periods EMA which indicates that bullish movement is in progress. The relative strength index period 14 is at 74 levels and the signal lines pointing up to indicate buy signal.

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