- The token is trading close to its 50 and 200 EMA.
- The token is about to give a basic price action/horizontal line breakout.
The token showed a bull rally from its support level and has now gone into a consolidation zone at present price levels. The 50 EMA (the blue line) is also coming to close to 200 EMA (the green line) which shows that the Golden Crossover is on its way.
ATOM on daily time frame
On the daily chart a horizontal line has been drawn. This horizontal line demonstrates that these levels have acted as a resistance for the token several times. Moreover whenever the token has crossed this horizontal line, the price of the token has gone to its next near resistance. Earlier in 2021 also when the price crossed this horizontal line it showed a huge bull rally and went on to mark its all-time high. We can also see a consolidation zone being formed at current levels, therefore a consolidation zone breakout along with this horizontal line breakout can give a bull move to its next near resistance , that is, $16.478.
Relative Strength Indicator (RSI) – The RSI curve is currently trading at 61.14, exceeding its 50-point threshold. The rise in Atom’s pricing has boosted the value of the RSI curve. The RSI curve can continue to rise if the price increases further.
Analyst views and expectations
The daily chart looks good for both short-term and long-term investors. Short-term investors can look forward to investing after the consolidation zone breakout whereas long-term investors can look forward to investing when a Golden Crossover takes place.
WalletInvestor’s price forecasts and cosmos price analysis indicate that a long-term increase is anticipated at Cosmos (ATOM) price; based on recent price movements, the forecast for 2026 is $173.331. The projected price action revenue over a five-year period in the Cosmos cryptocurrency market is +380.81%.
The ATOM pricing is expected to exceed expectations in the next few years, according to Redditors price forecast. The Cosmos price will surpass the $60.082 threshold by 2025.
The ATOM may trade around $73.68 by 2025, according to DigitalCoinPrice projection and technical analysis.
Technical Levels
Major resistance -$24.926
Major support -$8.338
Conclusion
The token looks like a promising long-term investment once the Golden Crossover takes place.
Disclaimer: The opinions represented in this work along with any other opinions are presented primarily for informative purposes and are not intended to be taken as investment advice.
Source: https://www.thecoinrepublic.com/2023/02/01/unveiling-the-future-of-blockchain-a-technical-analysis-of-cosmos-atom/