COSMOS (ATOM) Mid-term Support & Resistance zones

Hi, ATOM community!

Today I’m going to analyze mid-term trading set up for Cosmos.

We should consider 3 keypoints moments here:

1) Price action near Support Zone 1 shows us little divergence between price and RSI chart. We can see that bears haven’t met much buy power pushing price to support 1
2) Price locked in 3.5$ - 4.2$ zone. I’m expecting sideways until any good news appear to break Resistance 2
3) In the case of positive news/social sentiment, the price could reach Resistance 3 pretty fast

For me, interesting entry points would be 3.4$ or after breaking 4.2$ resistance (which will become support zone eventually)

If you are seasoned scalper, you can try to trade above-mentioned range.

Your comments are appreciated. Thanks for reading

Comment:

2) Price locked in 3.5$ - 4.2$ zone. I’m expecting sideways until any good news appear to break Resistance 2

UPD: Resistance 1. Sorry for typo

Comment:

3) In the case of positive news/social sentiment, the price could reach Resistance 3 pretty fast

UPD: Resistance 2 accordingly

Trade active:

Just as planned. Bought near 3.5$ heading towards the first Resistance and with such a strong moment, it's a no-brained it will fall

Trade active:

Basically, anything near 3.5$ is a good buy RN but put tight stop losses

Trade closed manually:

3.4 Stop-loss reached. Strong support zone has been broken.
Future trades impose a high risk

Trade closed: stop reached