Cosmos / TetherUS
Long

ATOM: Approaching Resistance

153
Cosmos (ATOM) technical analysis:

Trade setup: Price has bounced off of $8.50 support and broke back above $10 and $12 resistance as well as 200-day moving average. It also made a Higher High, which are all signs of bullish trend reversal. If it breaks above the down trendline, it could revisit $16.

Trend: Uptrend on Short- and Medium-Term basis and Neutral on Long-Term basis.

Momentum is Mixed as MACD Line is below MACD Signal Line (Bearish) but RSI > 55 (Bullish).

Support and Resistance: Nearest Support Zone is $12.00 (previous resistance), then $10.00. The nearest Resistance Zone is $16.00.

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