ATOM Price Analysis – July 5
The Cosmos price keeps the intraday gains of 3.89% as the coin plans to cross above the upper boundary of the channel.
Resistance levels: $18, $20, $22
Support levels: $4, $3, $2
ATOM/USD is moving to cross above the upper boundary of the channel as the coin trades in green. The cryptocurrency market corrects itself like Bitcoin and other top coins targeting the upside. The Cosmos price is making a slight increase from $8.7 to a peak of $9.3 with a gain of 3.89%. The Cosmos (ATOM) is currently hovering at $9.0, preparing to cross into the positive side.
Cosmos Price Analysis: More Gains Are Likely to Surface for Cosmos (ATOM)
The Cosmos price is one of the few digital currencies that keep the intraday gains at the time of writing. Looking at the daily chart, a correction below the 9-day and 21-day moving averages could pave the way to the support levels of $4, $3, and $2 respectively.
On the downside, the immediate resistance is above moving averages. It is important to note that $10 is a key level of resistance, while the main resistance levels could be located at $18, $20, and $22 as the technical indicator Relative Strength Index (14) moves to cross above the 60-level, suggesting more bullish signals.
ATOM/BTC Market: Price Consolidates to the Upside
Against Bitcoin, the market price is hovering above the 9-day and 21-day moving averages, currently trading at 4418 SAT and expecting a break above the upper boundary of the channel. Looking at the chart, if the coin can make cross above this barrier, the bulls may end up dominating the market.
On the other hand, if the price drops below the 9-day and 21-day moving averages, the next key support level may come at 3000 SAT and below. On the bullish side, a possible rise could push the market to the resistance level of 6000 SAT and above. According to the technical indicator Relative Strength index (14), the market may keep bullish if the signal line moves into the overbought region to suggest more bullish signals are coming into focus.