Joining the altcoins bull run, ATOM coin price surged more than 35% in the past two days with hopes to escape the bearish pattern in play.

The altcoins are often moving in tandem and that's the current situation. Cosmos does not have anything major to shout out, however, it's moving in tandem with Near Protocol's and Terra's cryptocurrency. It is possible that investors are hoping that the continued advancements in the crypto ecosystems will result in greater innovation and trade and, ultimately, higher values for cryptocurrency.

So, the news of Terra joining the UST stablecoin to Aurora in the Near ecosystem triggered a price surge in the Cosmos token.

Let us read ahead to know more about the Cosmos technical analysis.
<h2>Past Performance of ATOM</h2>
ATOM coin prices form a falling channel pattern in the daily chart due to the <a href="https://www.cryptoknowmics.com/news/tezos-xtz-and-cosmos-atom-technical-analysis-bulls-are-struggling-to-keep-up/">downtrend in play</a>. However, the recent bullish reversal from the support trendline helped in a 25%+ price jump within two days. Therefore, the price reaches the utmost resistance with high chances of a bullish breakout. 

Moreover, the intraday trading volume of the coin has increased by 220% with a 24-hour growth of 11% in the market cap. Thus, reflecting rising bullish attention for the Cosmos token.

<img src="https://s3.tradingview.com/snapshots/n/nMgE4TDk.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/nMgE4TDk/">ATOM/USD Daily Chart</a>
<h2>ATOM Technical Analysis</h2>
The ATOM coin price trades near the resistance trendline of the falling channel in the daily chart. However, the breakout of the channel is necessary to maintain the bull run, otherwise, a bearish reversal is in order.

The previous attempts to break above the resistance trendline provide selling pressure areas with high volatility near $32 and $42. However, a bearish overtake can drive the price back to the support trendline.

The RSI indicator at 55% steps into the overbought zone with a sudden surge in buying pressure. However, the slope shows a sideways growth as the price struggles to break above the descending channel. 

The increasing distance between the MACD and the signal line after the bullish crossover reflects a solid uptrend. However, the lines are below zero level and strive to break above it.

Despite a little lack of commitment, the technical indicators reflect a strong possibility of a bullish breakout. However, safe traders might need to wait till the ATOM price action confirms the hypothesis. 
<h2>Upcoming Trend</h2>
The upcoming trend for the ATOM coin price can face resistance near the previous touches of the resistance trendline. Therefore, traders need to limit their risk near the horizontal levels at $32 and $42. However, in case of a reversal, a dip to the support trendline remains an excellent buying area.

ATOM Technical Analysis: Bullish Outbreak Dreams Escaping Falling Channel

Joining the altcoins bull run, ATOM coin price surged more than 35% in the past two days with hopes to escape the bearish pattern in play.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

ATOM Technical Analysis: Bullish Outbreak Dreams Escaping Falling Channel

Top Picks