According to the Cosmos price analysis, the bulls are effectively maintaining their lead and have established an upward moving line after February 21. The price has been climbing and is about to break through the $34.6 barrier level. The recent rally has been fairly encouraging, as the cryptocurrency has rebounded dramatically over the last week, and the price has finally hit the previous high of $34.1. The positive momentum is progressively building, and the price value is projected to rise further.
ATOM/USD 1-day price chart: Bulls re-emerge as the price rises towards $34.6.
The one-day Cosmos price analysis is favorable for the cryptocurrency, as there has been a significant increase in the price value. The price has now surpassed the $34 level and is seeking to settle at a higher level as it moves towards the next resistance level, which is currently at $34.6. At the time of writing, the ATOM/USD is trading at $34.1, up 3.4 percent in the previous 24 hours.
Meanwhile, the 1-day moving average (MA) is at $30.2, indicating that bullish action has continued over the last week. At the same time, the Bollinger bands on the 1-day ATOM/USD price chart are averaging $28.2. The volatility has been increasing for the day, and the Bollinger bands values are as follows: the upper band is at $34.1, just below the price level, while the lower band is at $22.2. The indicator’s Relative Strength Index (RSI) score is 62, indicating that it is trading in the top half of the neutral zone.
Analysis of the Cosmos price: Recent changes and additional technical indicators
The 4-hour Cosmos price analysis chart reveals that the price is once again flying high, as the bulls have regained some power during the last few hours. The current ATOM/USD price is $34.19 and is likely to rise much further. In comparison, the 4-hours price chart’s moving average is at $33. The bulls have taken advantage of the scenario, as they have been able to significantly raise the price levels.
The Bollinger bands indicator returns the following values: the higher value is $34.3, which represents the resistance for the ATOM price function, and the lower value is $29.7, which represents the support. Because of the recent increase, the RSI score has improved during the last four hours as well, reaching index 67 at the boundary of the overbought zone.
Conclusion of the Cosmos pricing analysis
According to the Cosmos price analysis, the trend for ATOM/USD has been positive for the day, as the bulls struggle to maintain their lead in a broader bearish market. The price has steadied off once more, having successfully reached the $34.1 mark. The positive momentum is projected to continue as long as the support level remains over $32. In the following hours, we expect ATOM to revisit $34.6 as resistance.