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ATOM Price Prediction – Is the Cosmos Price Correction Over?
The Cosmos price took a heavy toll along with other altcoins from the last crypto crash. Like many other cryptocurrencies, ATOM dropped by around -33%. Our premium customers were forewarned of the crash in the Cosmos price, which is why they were able to limit their losses. But how could the price continue going forward? Is the correction already over or will we go deeper and what are the next goals for ATOM? Let's tackle all of this in this ATOM price prediction article.
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ATOM Price Reaches GoldenPocket – Correction Over?The ATOM price has been able to correct itself to a higher-level GoldenPocket in the past few months. Thus, the price was already able to correct the entire increase in the bull run. After the correction was over, Cosmos price formed an ABC sequence. This ABC sequence was also fully completed so that the price could reach its final goal. Today, prices corrected to the GoldenPocket of the ABC sequence and found support there. This is why the price was able to show a bullish reaction recently.
Fig.1 ATOM/USD 1-day chart showing the heavy correction - TradingView Will ATOM Price Increase soon?The Cosmos price recently broke a trend line. This break signals a possible trend reversal. With the price currently viewing this trendline as support, we anticipate that the Cosmos price could next rally to the +/- $38.77 resistance. If this resistance breaks, we consider the $44.77 target likely as this is the next resistance.
Fig.2 ATOM/USD 4-hours chart showing the potential uptrend of ATOM - TradingViewFor now, the $27 price area looks like a solid stop-loss area. Looking at the next targets is what most traders are doing now, in anticipation of an end of the downtrend. On the other hand, successful traders always consider macro elements, such as the global market conditions, economical and geopolitical situations.
Cosmos ATOM© Cryptoticker
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