COSMOS Price Prediction Today: Daily (ATOM) Value Forecast – July 24
- The short-term outlook is in a bearish trend while the medium-term outlook is in the uptrend.
- Responsible buying at key areas may be considered.
ATOM/USD Medium-term Trend: Bullish
Supply zone: $10.00, $12.00, $14.00
Demand zone: $3.00, $2.00, $1.00
ATOM is in a bullish trend in the medium-term outlook. The bears' pressure was strong from the key supply area at $4.31 with the cryptocurrency dropping to lower low each day from 22nd July. $4.31 in the demand area was the low during yesterday session. The downward momentum was lost at $3.64 shortly after today’s opening price at $3.69.
The formation of abandon baby candle patter at $3.67, signal a trend reversal as the bulls gradually returned. ATOMUSD rose to $3.74 with a marubozu candle an indication of strong bulls presence. This was reflected in the large bullish candle currently forming as price jumped to $4.00 in the supply area.
Price is at the 50.0 fibs a breakout at the resistance may be expected as the rally is sustained in the medium-term as confirmed by the signal of the stochastic oscillator pointing up at 25%. The bulls target is at $4.30 at the key supply area. A minor pullback may occur but the target remains a good key area.
ATOM/USD Short-term Trend: Bearish
ATOM is in the bearish trend in the short-term outlook. The 50.0 fib area was a key area of price rejection and trend reversal as the bulls lost momentum at $4.01.the large bearish engulfing candle confirmed the downtrend trend continuation in the short-term.
With price down to $3.77 in the demand area, the journey down south may continue with price below the two EMAs and the signal of the stochastic at 78% undefined.
$3.69 in the demand area may be retested and subsequently broken as the pressure on the coin by the bears becomes stronger and more candles opened and closed below the EMAs.
Live Cosmos (ATOM) Price:
1 ATOM/USD =$25.5843 change ~ -7.32%
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