COSMOS Price Prediction Today: Daily (ATOM) Value Forecast – June 12
- The medium-term outlook is in a range-bound market while the short term is in an uptrend.
- Buying may be considered in pullback areas.
ATOM/USD Medium-term Trend: Ranging
Supply zone: $10.00, $12.00, $14.00
Demand zone: $4.00, $3.00, $2.00
ATOM remains in consolidation in the medium-term outlook. The bears' pressure was lost during yesterday session despite a bearish marubozu candle at $6.00. ATOM fell to $5.82 in the demand area as the low of the day. The return of the bulls was obvious with the push of the cryptocurrency up at $5.97 before the end of the session.
The resistance at the two EMAs crossover was broken as the market opens today at $5.92 as the bulls remained in control. ATOM is currently up at $6.25 within the range. The journey toward the upper supply area is on with confirmation from the signal of the stochastic oscillator pointing up at 82%.
ATOMUSD is in consolidation and trading between $6.60 in the upper supply area and at $5.59 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence patience is required to allow this to happen before a position is taken.
ATOM/USD Short-term Trend: Bullish
ATOM is in a bullish trend in the short-term outlook. The bulls dominance of the market was confirmed shortly after today’s opening with the breakout at from the two EMAs with a large bullish candle at $5.88. ATOMUSD rose to initially to $6.09 and later to $6.25 in the supply area.
The stochastic oscillator confirms the uptrend as it signal points up at 83% in the overbought region and price is above the two EMA indicating strong bullish pressure.
$6.40in the supply area may be retested as the bulls' pressure becomes stronger with more candles opened and closed above the two EMAs.
Live Cosmos (ATOM) Price:
1 ATOM/USD =$23.9885 change ~ -2.48%
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