Cosmos (ATOM) has moved within the horizontal channel boundaries for almost a month. The asset is currently in the accumulation zone before the next expected asset’s growth wave will happen. The RSI indicator is below 50 on the 4H chart, which indicates a continuation of the short-term downward movement.
However, it makes sense to secure a long position on ATOM as the altcoin is close to the lower boundary of the accumulation zone. In the short term, we can expect a pullback to the support levels marked green on the chart. The upper border of the accumulation zone and the previous All-Time High are considered the next targets to fix profits. We recommend placing a Stop Loss on the trade just below ATOM’s pullback levels on the background of the recent Bitcoin corrections.
Use the GRID Bot by 3Commas to benefit from trading ATOM/USDT. To do that, simply follow the steps below:
Best of luck, and happy trading!
-The 3Commas Team
However, it makes sense to secure a long position on ATOM as the altcoin is close to the lower boundary of the accumulation zone. In the short term, we can expect a pullback to the support levels marked green on the chart. The upper border of the accumulation zone and the previous All-Time High are considered the next targets to fix profits. We recommend placing a Stop Loss on the trade just below ATOM’s pullback levels on the background of the recent Bitcoin corrections.
Use the GRID Bot by 3Commas to benefit from trading ATOM/USDT. To do that, simply follow the steps below:
- Head over to the GRID Bot by choosing it from the main menu in your 3Commas account;
- Select the USDT Market and the ATOM/USDT pair;
- In the GRID Bot tab, go to the Manual strategy settings;
- Set the upper limit price to $26.26 and the lower limit price to $16.05
- Number of grid lines: 10
- Set the quantity per grid parameter according to the amount you wish to spend on each trade;
- Click the Create button and your bot is ready to trade!
Best of luck, and happy trading!
-The 3Commas Team