Cosmos (ATOM) ranged in a wedge against Tether (USDT) as it builds more strength to break above the $12 key resistance. The price of Cosmos ATOM has shown bullish strength as the price breaks above resistance after ranging for days. (Data from Binance) Related Reading: Crypto Market Rally Stopped Short Ahead Of Reaching Full-Blown Greed Cosmos ATOM Price Analysis On The Weekly Chart From the chart, the price of ATOM saw a weekly low of $6.2, which bounced from that area and rallied to a price of $12, marking ten weeks of bullish strength from ATOM. ATOM weekly candle closed with a bullish sentiment, with the new week’s candle looking bullish for price recovery. The price has continued to gain traction; despite Bitcoin’s (BTC) retracement, ATOM has shown great strength in breaking out of the price range. If the price of ATOM on the weekly chart maintains this structure, it could quickly trend higher to a region of $16, acting as the weekly resistance for the price. To avoid falling below, the price of ATOM needs to hold this support zone at $12.5. Weekly resistance for the price of ATOM – $16. Weekly support for the price of ATOM – $12.5. Price Analysis Of ATOM On The Daily (1D) Chart With more buy orders, the price of ATOM would continue to trend to the upside after forming support above the wedge; ATOM holding its price above this support will help the price to trend higher. To confirm the bullish sent...
