By Scott Galbraith
After a brief negative wave earlier today, the cryptocurrency is again in a bullish condition, according to the Cosmos (ATOM) price research.
A detailed prediction of ATOM’s price
The price of the cryptocurrency, which has been steadily rising, is at 8.89 USD, up from an intraday low of 8.74 USD hit earlier this morning.
The whales are in charge of the market, pushing Cosmos/USD above the 8.74 USD support level and up to an all-time high of 8.93 USD before a rapid decline.
The 8.74 USD level, which was ATOM’s last barrier before the bulls smashed it, is where it finds immediate support.
ATOM/USD may go higher In the following days and target the 9.00 USD resistance level if the current support level holds.
On the other side, the cryptocurrency may decline and test its 8.50 USD support level if ATOM/USD falls below 8.74 USD.
The cryptocurrency is doing well in the one-day ATOM price study since there’s been a considerable gain in the price value.
The value is now heading for a higher level after overcoming the significant barrier that was present at the 8.93 USD level today. On the 19th of Dec, the price increased by 1.18 percent to 8.89 USD.
Even though there has been positive action over the past week, the MA for the 24-hour chart is still trading underneath the SMA 50 at $9.23. On the 24-hour ATOM/USD cost chart, the Bollinger bands are also generating an average of 9.70 USD.
The upper and lower limits of the Bollinger bands for the Cosmos price function are at the following points: $10.79 for the upper limit and 8.61 USD for the lower limit.
Indicating that the volatility was on the upper part for the day. The indicator is located in the balanced condition with an RSI score of 40.46.
Conclusion
The price is rising again, as shown on the 4-hour ATOM price analysis chart, as the bulls have regained their impetus in recent hours.
As for now, pricATOM/USD exchange rate is 8.89 USD, and it is anticipated that it may rise even more in the ensuing hours. In one case, a swing high of 8.93 USD was also seen, although resistance is also very strong at that level.