ATOM/USD Conquers $13.000 Resistance Level

The $13.000 price resistance level has been a major price level in the Cosmos market. The price fell below this price level on the 28th of September. And since then the price has repeatedly failed to break the resistance level. For instance, as the bulls formed very strong support on the 1st and 2nd of October, they used it to charge at the $13.000 resistance level. But as the price action gets closer to the price level, the buying pressure reduces progressively on each of the daily trading sessions. Then on the 10th of October, after hitting the resistance level, the market began to trend down again.

Cosmos Market Price Statistic:

• ATOM/USD price now: $ 13.3178
• ATOM/USD market cap: $3,753,005,363
• ATOM/USD circulating supply: 286,370,297.00
• ATOM/USD total supply: Not Available
• ATOM/USD coin market ranking: #21

Key Levels

•  Resistance: $13.500, $14.000, $14.5000
•  Support: $12.000, $11.500, $11.000

Cosmos Market Price Analysis: The Indicators’ Point of View

Since the 10th of October when Cosmos’ price got rejected at the $13.000 price level, the Bollinger band portrayed a downtrend as the general direction of the indicator from then on tilted and move slightly in a downward direction. The buyers were finally able to cut short the selling pressure on the 13th of October. And they were able to form new price support on the 14th of October. However, this did not change the direction of the Bollinger indicator. This was because the opposing selling pressure made the price action enter into price consolidation. The bulls finally gain the upper hand on the 25th of October when (after) they had established a price support level, they took the market from then on until, in today’s market, they finally break the $13.000 resistance level.

ATOM/USD 4-Hour Chart Outlook

The last 4-hour trading session of yesterday was hijacked by the bears. Initially, the bulls had the market to themselves as they have taken the price to $13.57 before bears overrun them. However, the next three sessions in today’s market have been bullish. Bulls are now trying to beat the new $13.57 resistance price level. With this determinant effort in the bulls market, ATOM/USD will be established above the $13.000 price level.

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