SwallowPremium

Cosmos (ATOM): Touching The 200EMA

Short
BYBIT:ATOMUSDT.P   ATOMUSDT Perpetual Contract
Cosmos is back at 200EMA line, where historically it has been seeing rejections. Also notice that trend line where price has been jumping off, and this gives us the next case: As we are approaching those two zones here, the gap between them is getting smaller and smaller, which means we will soon see a breakout or breakdown from there.

We keep an eye on both of those zones for any signs so keep your eyes open!

Swallow Team
Comment:
Cosmos is still near 200 EMA while not showing any strong signs for breakout. As the price is still near it, we see a good chance for a full rejection after seeing multiple micro rejections from that zone.
Comment:
Cosmos had made a nice breakdown of trend, resulting in a nice movement of almost 12%. We are now seeing some small recovery but yet the price seems weak!

◼️ Price moved +11.41%

🚨 Authentic Mentoring
⚑️ Short-Term + Mid-Term Trades

Join our amazing team and be part of something bigger.
FREE: t.me/SwallowCryptoTeam
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.