Cosmos Price Analysis – September 23
The Cosmos bulls are taking charge of the market as the coin hovers around $42 resistance level.
Resistance levels: $48, $50, $52
Support levels: $35, $33, $31
Based on the current prediction, ATOM/USD could hit $45 in the next positive step. The difficult period seems to be over for this crypto as it tries to create a new trend. However, Cosmos’s price is currently trading at $42.41, although the coin touched $43.47 when the market opened during the European session, it could probably retest $40 before it rises again.
Cosmos Price Analysis: ATOM/USD May Create More Upsides
It is apparent that a break above $45 could encourage more buyers to increase their entries, eventually pushing the price to the resistance levels of $48, $50, and $52. On the downside, once the price breaks below the 9-day moving average, the sell-off could gain traction with the next focus below the $38, followed by the psychological $36 support.
Moreover, if the above mentioned-supports are broken, the downside pressure may increase while the next supports may be created by $35, $33, and $31. The technical indicator Relative Strength Index (14) is moving above 60-level, suggesting additional bullish signals.
ATOM/BTC Market: Price Keeps Moving Upward
When compares with Bitcoin, the Cosmos price is keeping the upward movement intact as the price remains above the 9-day and 21-day moving averages. Meanwhile, a daily close above the resistance level of 9400 SAT could encourage the bulls to extend the rally towards 11000 SAT and above.
In other words, a close below the 9-day moving average could reverse the Cosmos price direction towards the daily support at 9000 SAT and a further bearish movement could take the coin to the support of 8000 SAT and below. Meanwhile, there is a possibility that ATOM/USD may continue the bullish trend as the technical indicator Relative Strength Index (14) is seen around 66-level with the signal line pointing to the north, suggesting bullish movement.