Thursday, November 17, 2022
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Cosmos (ATOM) Trades Under $13 As Bulls Give Up; Right here Are Ranges Bulls Will Purchase

  •  ATOM’s worth loses its demand zone of $13 as the worth trades to a low area of $10 and will expertise extra sell-off. 
  •  ATOM’s worth continues to look weak after a bearish downtrend with the market’s present state, as issues look unsure for many merchants and traders. 
  • ATOM’s worth trades beneath the every day 50 Exponential Shifting Common (EMA) as bulls eye ranges to purchase in.

Within the final two days, the crypto market has seen some drastic shift in sentiment, with Cosmos (ATOM) and the worth of different altcoins battling for survival after the information that Binance wouldn’t be taking up FTX after conducting due diligence. Earlier weeks noticed the worth of Cosmos (ATOM) carry out nicely, rallying from a low of $13 to a excessive of $15. Most altcoins pattern increased as many produced good points of over 200%, with many hoping for extra restoration bounce. Nonetheless, these expectations had been minimize quick by the uncertainty surrounding the crypto market, resulting in a lot worry about the place the market is headed. (Information from Binance)

Cosmos (ATOM) Worth Evaluation On The Weekly Chart

The previous few days have been stuffed with a lot turbulence within the crypto house as many altcoins have struggled to indicate power after dropping their key help holding off worth decline.

The present uncertainty surrounding the market has resulted in reluctance on the a part of merchants and traders to make altcoin purchases, as there isn’t a assurance if they’d be heading up any time quickly.

The worth of ATOM, regardless of exhibiting some nice power in current weeks, ATOM has been left hanging within the air as the present state of the market has led to the worth dropping to its weekly low of $10 after an extended whereas.

The worth of ATOM noticed its worth decline to a weekly low of $9.5 earlier than bouncing off this area, exhibiting some nice power to a area of $10 as the worth goals to interrupt increased.

Weekly resistance for the worth of ATOM – $11.5.

Weekly help for the worth of ATOM – $6.5.

Worth Evaluation Of ATOM On The Every day (1D) Chart

Every day ATOM Worth Chart | Supply: ATOMUSDT On

The worth of ATOM stays weak within the every day timeframe as the worth trades beneath the important thing help area of $11.5, with bulls eyeing decrease areas to purchase in on the worth of ATOM. 

The area of $8.5-$5.5 has been a key demand zone for the worth of ATOM on each weekly and every day timeframes, contemplating how sturdy this venture has been with good group backing. 

Every day resistance for the ATOM worth – $12.

Every day help for the ATOM worth – $8-$5.

Featured Picture From zipmex, Charts From Tradingview


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