ATOM: Resistance Breakout

Cosmos (ATOM) technical analysis:

Trade setup: Price broke back above down trendline and 200-day moving average, which is bullish and could revisit $16 level. Note that it made a Higher Low, which is also a sign of Uptrend. Upside to $16.

Trend: Neutral on Medium-Term basis and Uptrend on Short- and Long-Term basis.

Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI ~ 50 (Neutral).

Support and Resistance: Nearest Support Zone is $12.00, then $10.00. The nearest Resistance Zone is $16.00.


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