Technical Analysis Suggests Massive ATOM Upswing if Bulls Step In -Breaking
- ATOM’s price has fallen to $8.77 in 24 hours.
- On the ATOM 4-hour chart, a downward wedge formed with ATOM prices nearing their apex.
- TA indicates that even a small bull rally can yield decent gains.
Cosmos (ATOM), experienced a decline in price over the past 24 hours, and has been down for the past seven days.
CoinMarketCap data indicates that ATOM prices have dropped to $8.77 over the past 24 hours. This is an estimated 2.25% price drop. ATOM’s price is also down over the last seven days as well, experiencing a dip of around 6.78%. ATOM’s weekly losses over the previous seven days have been added to by the 24-hour chart.
ATOM is currently in the 31st position on CoinMarketCap’s list in terms of market cap. AtOM is now in the 31st spot on CoinMarketCap’s market capital list, behind Flow(FLOW) at the 30th and VeChain [VET] at the 32nd. VET’s market cap currently stands at $13,257,837,269.
ATOM recorded a 24 hour trading volume of $215686,904, an 13.92% increase over the previous day.
ATOM has a great upside potential (Source: TradingView).
If you look at the ATOM 4-hour chart, you can see that even a tiny bull rally has huge upside potential. ATOM’s price has formed a declining wedge and can reach $9.50 if bulls get in. But investors need to set high stop losses.
ATOM could see a target price between $10.00 and $11.50 should it breach the high bound of the wedge that was formed over the four-hour chart. Should there be a breakout, the highest price target is $11.918.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CQ. The information contained in this article shouldn’t be taken as investment advice. CQ recommends that all users do their research on cryptocurrency before making any investment.