The ATOM coin price action breaks above the supply zone at $32 and aims to reach $44 after retesting the bullish breakout.

Cosmos employs a proof-of-stake consensus algorithm. Validator nodes that hold more ATOM tokens have a higher chance of being selected to validate transactions and earn rewards. Nodes that are found to be dishonest are punished and may be liable for losing the tokens in play.

Let us move ahead to read about the Cosmos technical analysis.
<h2>Past Performance of ATOM</h2>
In our previous article on <a href="https://www.cryptoknowmics.com/news/atom-technical-analysis-post-retest-bull-run-aims-to-reach-44">Cosmos technical analysis</a>, we forecasted the bull run after the bullish breakout of the falling channel. The retest of this breakout has driven the ATOM coin price higher than the supply zone at $32. The price has increased by more than 30% in the past week. 

<img src="https://s3.tradingview.com/snapshots/f/fE5m6Zcj.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/fE5m6Zcj/">ATOM/USD Daily Chart</a>
<h2>ATOM Technical Analysis</h2>
The ATOM coin price shows a retracement in the past 48 hours to retest the supply zone breakout. However, the target of $44 sustains as the overall uptrend is intact. Therefore, the retest brings another buying opportunity.

The RSI indicator at 62% shows the slope sustaining in the nearly overbought zone while keeping an uptrend to reach above the 70% boundary. Moreover, there is no bearish divergence in the last two peaks. Therefore, the RSI gives a BUY signal.

The MACD indicator shows the fast and slow lines keeping an uptrend in the daily chart to rise above the zero line. Moreover, the increasing gap between the two lines shows rising bullish sentiments. 
<h2>Upcoming Trend</h2>
The retest of the supply zone at $32 will bring an excellent entry point with minimum risk. However, traders need to keep an open mind for the possibility of a fallout. Nonetheless, until the uptrend is intact, the bullish target remains at $44.

ATOM Technical Analysis: New Year Breakout Aims for a 30% Hike

The Cosmos (ATOM) coin price action breaks above the supply zone at $32 and aims to reach $44 after retesting the bullish breakout.

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: New Year Breakout Aims for a 30% Hike

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