Cosmos (ATOM) Price Analysis – While Everything’s Going Down, Cosmos Goes Up!


Cosmos’ price saw a massive increase in the last 48 hours! Is this only the start?

Cosmos Price Forecast – Cosmos breaks the golden ratio!

ATOM/USD Daily Chart
ATOM/USD Daily Chart – Tradingview

Cosmos was able to break the golden ratio resistance around $5.2. This level then served as a price support a few days ago.

The price of Cosmos was then able to rise by 42% in the last 48 hours! Additionally, the golden crossover is still intact in the daily chart, and the MACD is still developing bullishly. Only the RSI gives reason to worry, as it is coming closer to overbought regions.

Cosmos Price Forecast – Is an all time high coming?

 ATOM/USD Weekly Chart – Tradingview
ATOM/USD Weekly Chart – Tradingview

Following this, the Cosmos price is only minimally under its all time high of $7.7. Although the RSI has now reached overbought regions, the MACD is still bullish as the trading volume increases in bullish manner.

The bullish outbreak from the chart patternand the breaking of the golden ratio are both very bullish indicators. For the time being however, Cosmos (ATOM) could be rejected at the the all time high resistance.

Cosmos Price Forecast – Against Bitcoin also near the all time highs!

ATOM/BTC Monthly Chart – Tradingview
ATOM/BTC Monthly Chart – Tradingview

Cosmos (ATOM) was able to break the golden ratio resistance against Bitcoin as well, after which the price has neared the all time high level of 0.0006618 BTC. An increase of over 106% in one month!

Should the previous all time high be overtaken, Cosmos could rise to the 0.382 Fib level around 0.0008227 BTC, and even up to the golden ratio around 0.00124 BTC. If however a bearish rejection takes place, Cosmos (ATOM) can find significant support at the golden ratio around 0.0005 BTC or around 0.0004 BTC.

Beste regards and successful trading,

Konstantin

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