• Cosmos (ATOM) is currently trading at $10.1 with a bullish movement above the 9-day and 21-day moving averages.
• The Cosmos price can only begin the upward movement if the newly touched $10.11 resistance level is maintained at all costs.
• The technical indicator Relative Strength index (14) is crossing above the 60-level as the signal line points to the north to encourage more buyers.
Cosmos (ATOM) has been on an impressive run since the start of the new year, with prices reaching a new peak of $10.1. This surge in price has been buoyed by strong bullish momentum, as the 9-day and 21-day moving averages have both been trending steadily upwards. With the current level of resistance at $10.11, there is a chance that the coin could continue to climb higher if it is able to break through this level.
In addition to this bullish momentum, the technical indicator Relative Strength Index (RSI) is also showing signs of bullishness. The RSI is currently crossing above the 60-level, with the signal line pointing to the north. This suggests that more buyers are entering the market, which could help to push prices even higher.
On the other hand, there is always the risk of a short-term price correction. If the red line of the 9-day MA falls below the green line of the 21-day MA, then this could indicate a bearish trend in the near future. In this case, the coin could see some pullback before climbing even higher.
Overall, Cosmos (ATOM) is showing plenty of promise and could potentially continue to rise in the near future. Investors should keep an eye on the coin’s current resistance level at $10.11 to see if it can break through this level, as this could be a sign of further bullishness. If the coin is able to break through this resistance level and maintain its upward momentum, then there is a good chance that the coin could reach even higher levels in the near future.