Cosmos (ATOM) indicator rises with a gain of 10% or more to show that it is not in the safe zone

• ATOM prices are showing bullishness, giving the bulls some relief as the price bounces off the weekly low of $8.5.
• ATOM prices continue to look bearish as market sentiment lingers as uncertainty continues for most traders and investors.
• ATOM price is looking to rise higher on the daily timeframe and less likely to break higher as the price moves towards the 50 Exponential Moving Average (EMA) price.

The price action exhibited by Cosmos (ATOM) has been uninspiring recently after the price fell from around $27 to its weekly low of $8.5. Bitcoin (BTC) price jumps from $15,500, price climbs to $16,500 high, Cosmos (ATOM) price drops to some The bears remained on the sidelines as they scored a relief bounce of 2019. Hold strongly above key supports. The price action exhibited by Cosmos (ATOM) and many altcoins has recently become a problem as many altcoins struggle to survive. The domino effect of the FTX saga and other large investors involved have brought the market to a standstill as it hasn’t made any major moves since the previous week. (Data from Binance)

Cosmos (ATOM) Price Analysis on Weekly Chart

Most crypto traders and investors have spent rough days worrying about where the market is headed after the crypto industry has been so turbulent. are struggling to survive and have lost their primary support for survival.

Due to the current market uncertainty, traders and investors are hesitant to buy altcoins as there is no guarantee that they will rise in value any time soon.

ATOM price on the weekly chart is struggling, with FUD (uncertainty and ATOM’s price was trading around $17 on the weekly chart, but as ATOM’s price dropped to around $8.5, the price was rejected and bounced off this area. It traded at $9.5.

Weekly resistance to ATOM price – $10.

Weekly support for ATOM price – $8.5.

ATOM price analysis on a daily (1D) chart

ATOM price remains fairly weak on the daily timeframe as the price is trading above the $8.5 support after rejecting from the $17 high.

The ATOM price is trading below the 50 and 200 EMAs at $9.8, acting as a resistance against the ATOM price. Prices at $11.5 and $13.8 correspond to prices at these levels and act as resistance.

If ATOM price sustains above $11.5, ATOM price can rise to near $13. A break below the $8.5 area will see the price return to the $5 area.

ATOM price daily resistance – $11.5.

Daily support for ATOM prices – $8.5-$6.

Featured Image From zipmex, Charts From Tradingview