ATOM is a well-established cryptocurrency that is now gaining the attention of investors and traders. OKEx has just announced to extend its real-time settlement feature for ALGOUSD, ATOMUSD, and 20+ coin-margined perpetual swaps. ATOM Is in Demand The ATOM (Cosmos) price has been continually rising in the past week. The ATOM opening price on February 6, 2021, was $12.16. As of February 12, 2021, ATOM closed at $21.08. The price has surged massively by approx. 73% in the last week. In the last 24 hours, ATOM price has fluctuated between $19.73 and $22.16. https://ift.tt/3qh7YG4 Technical Indications for the Day-Ahead and Tomorrow ATOM started trading at $21.07 today. Currently, it is trading at $20.94. The price has decreased since the start of the day. The EMA and SMA lines are above the price line. Hence, some price corrections are occurring and the price is declining. The A/D indicator is rising. Thus, whales are accumulating at a higher rate. Thus, we can expect the price to rise further. Currently, the RSI is at 40%. An hour back, it faced a bearish swing rejection at 30% and rallied thereafter. But, the RSI has started falling again. Thus, selling pressures are very high. A price pullback looks imminent. The MACD and signal lines are negative. Thus, the market momentum is bearish. However, a bullish crossover by the MACD line over the signal line is indicative of price corrections. The price might pull back temporarily and resume its upward journey. The AO indicator is negative. Hence, the market momentum is still bearish with high selling pressures. The Stochastic oscillator breached the 70% mark a few minutes back. Thereafter, it started falling. Selling pressures have overtaken the market. The bearish crossover of the actual value-line over the 3-day SMA line indicates a price pullback. The ADX indicator is gradually rising but the price is falling. There is a bullish divergence here. So, we can expect the price to rise again after a brief pullback. Currently, the price has fallen below the Fibonacci pivot point of $20.98. If the price falls below the first Fibonacci pivot support level of $20.06, then probably a price downtrend has set in. A downtrend will get confirmed if the price falls below the second Fibonacci pivot support level of $19.49 by the end of the day. The price has fallen below the 61.8% FIB retracement level of $20.66. It can further fall to the 76.4% FIB retracement level of $20.30. On the 7-day chart, the overall trend looks bullish. Thus, the current bearish momentum maybe just a price adjustment phase. After a brief pullback, the uptrend will continue tomorrow as well.
The post ATOM in a Price Adjustment Phase Between $19.73 and $22.16 appeared first on Cryptoknowmics-Crypto News and Media Platform.
from Live Crypto News – Cryptoknowmics-Crypto News and Media Platform
