The kosmos (ATOM) price began an upward movement after generating bullish divergence. An increase above $10.6 would go a long way in indicating that the trend is still bullish.
The ATOM cijena has fallen below a short-term descending resistance line since reaching a high of $17.2 on Sept. 9. More recently, the line caused a rejection on Nov. 5, accelerating the downward movement. A similar decrease was seen throughout the crypto market.
The Cosmos price reached a low of $8.80 on Nov. 24 before bouncing. Currently, it is attempting to reclaim the 0.618 Fib retracement level at $10. Its reclaim would make the Cosmos price forecast bullish, since the preceding breakdown would be considered a deviation.
In that case, the next resistance areas would be at $12.30 and $14.30, created by the 0.5 Fib retracement resistance (white) and the resistance line, respectively.
Cosmos Price: Will Bullish Divergence Lead to Rally?
A closer look at indicators from the 12-hour technical analysis supports the continuation of the upward movement. The main reason for this is the bullish divergence in the daily RSI (green line). Such divergences often precede upward movement.
An RSI increase above 50 would go a long way in suggesting the upward movement has started.
Moreover, the ATOM price has broken out from a descending resistance line during the past 24 hours, further supporting the hypothesis of an upward movement.
Wave Count Support Increase
Finally, the wave count is also leaning bullish. The decrease since Sept. 7 resembles an A-B-C corrective pattern, in which waves A:C have a 1:1 ratio (white). An increase above the wave A low (red line) of $10.6 would confirm this count. In this case, an eventual breakout from the long-term resistance line would be likely.
Conversely, a drop below the wave C low of $8.7 would invalidate this particular count.
Za najnoviju analizu kripto tržišta BeInCrypto, kliknite ovdje.
Odricanje od odgovornosti: BeInCrypto nastoji pružiti tačne i ažurne vijesti i informacije, ali neće biti odgovoran za bilo kakve činjenice koje nedostaju ili netačne informacije. Pridržavate se i razumijete da biste trebali koristiti bilo koju od ovih informacija na vlastitu odgovornost. Kriptovalute su vrlo nestabilna finansijska sredstva, stoga istražite i donesite svoju finansijsku odlukus.
odricanje
Sve informacije sadržane na našoj web stranici objavljene su u dobroj namjeri i samo u opće informativne svrhe. Svaka radnja koju čitatelj poduzme na informacijama koje se nalaze na našoj web stranici strogo je na vlastiti rizik.
Source: https://beincrypto.com/cosmos-atom-needs-this-move-remain-bullish/