The Cosmos price prediction reveals that ATOM may begin to form higher as the bears lose grip over the coin.
Cosmos Prediction Statistics Data:
- Cosmos price now – $11.41
- Cosmos market cap – $3.2 billion
- Cosmos circulating supply – 286.3 million
- Cosmos Coinmarketcap ranking – #20
Resistance levels: $14.0, $15.0, $16.0
Support levels: $9.0, $8.0, $7.0
ATOM/USD is attempting to cross above the 21-day moving average while the $10.5 support level remains the critical support where the price has been holding for some time now. However, since a few days ago, the Cosmos (ATOM) has been trading below the 9-day and 21-day moving averages and this refrains the coin from touching the resistance level of $12.0.
Cosmos Price Prediction: Will Cosmos Move Higher?
The Cosmos price may begin to rise and could probably cross above the upper boundary of the channel if the bulls defend the $10.5 support level. Therefore, any further bullish movement above the channel may hit the potential resistance levels of $14.0, $15.0, and $16.0.
However, this technical prediction may be invalidated if the bears break and slide toward the lower boundary of the channel, any further bearish movement may reach the support levels of $9.0, $8.0, and $7.0. Moreover, the technical indicator Relative Strength Index (14) is moving to cross above the 50-level to push the coin to the next positive direction.
Against Bitcoin, the Cosmos price is attempting to cross above the upper boundary of the channel with a major resistance level at 4200 SAT. The long-term moving averages may likely keep the bullish movement as the market is starting a new trend if crosses above the channel.
However, if the buyers could push the price to the upside, higher resistance could be located at 4800 SAT and above as the technical indicator Relative Strength Index (14) is moving above the 40-level, indicating that buyers are coming to play. Moreover, should the bulls fail to move the current market value above the channel, bears may step into the market, and the nearest support level could be located at 3100 SAT and below.
Alternatives to Cosmos
The Cosmos price may continue with the bullish movement after touching the daily high of $11.50 during the European session today. The coin is now heading toward the upper boundary of the channel to continue the bullish movement. However, the recovery seems to have started as the technical indicator Relative Strength Index (14) moves to cross above the 50-level. Nonetheless, the Love Hate Inu token distinguishes itself from other meme coins due to its versatile accurate survey and poll results powered by the Ethereum blockchain, the token has already raised up to $8 million in the ongoing presale.
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