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ATOM Price Analysis: The bulls barge in with a great pace

Cryptocurrency


ATOM- Cosmos’ proprietary token ranks 17 according to the stats of Coinmarketcap. The price of ATOM at the time of press was $4.2557 and the market cap was at $807 million and a 24-hour trading volume of $184 million. A huge chunk of ATOM was traded from HOTBIT- one of the professional trading platform based in Shanghai and Taipei. It contributed to a total of $32 million via ATOM / USDT pair.

2 Hour Chart

Source: ATOM / USD TradingView

The short term chart showed an uptrend extending from $3.0220 to $3.6368. The resistance was at $3.9100 and the support was held at $3.6222.

Parabolic SAR: The dotted line below the candlesticks was going up indicating that the coin was under a bearish market.

The Awesome Oscillator showed that the red bars were gaining momentum to place the coin in the bearish market.

Relative Strength Index: The line was swaying over the 50-line indicating that the buyers are active in pushing the coin to the bullish market.

1 Day Chart

Source: ATOM / USD TradingView

The long term chart exhibited a downtrend extending from $6.8318 to $4.2382. The immediate resistance was at $3.6228 and the subsequent resistance was at $3.9041 while the support was held at $2.0226.

The Bollinger Bands had begun to undergo a huge divergence thereby increasing the volatility of the coins.

Chaikin Money Flow: The CMF line was above the zero line suggesting that the inflow was way more than the outflow of the capital placing the coin in the bullish market.

The MACD line was over the signal line indicating that the coin was under a bullish trend at the time of writing.

Conclusion

It is clear that the coin was under a bullish influence as the indicators in the long term and short term suggest the same.

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