๐ Analysis of
$ATOM on the daily timeframe
Hey guys,
$ATOM is at $1.509 with no significant change, and itโs still in a long-term downtrend from the high of $2.298 ๐
โ
Positive news: The Co-CEO of Cosmos Labs talks about a partnership with dYdX and Robinhood โ expansion and important strategic partnerships for the project.
Indicators:
Price is below all major moving averages, the MACD is barely positive at +0.005, and the RSI(6) at 28 indicates oversold conditions, meaning thereโs a chance for a technical rebound ๐ง
Proposed entry: $1.441 โ $1.509 (cautious entry)
๐ฏ Target 1: $1.800
๐ฏ Target 2: $1.980
๐ฏ Target 3: $2.298
๐ด Stop loss: below $1.441
About the coin โ๏ธ
Cosmos, or ATOM, is a blockchain network focused on connecting different blockchains and creating an โinternet of blockchains.โ Partnerships with major platforms like dYdX and Robinhood clearly strengthen its reach and usage volume.
โ ๏ธ RSI is low and a rebound is possible, but the overall big trend is still strongly bearish โ trade responsibly and you must stick to the stop loss. ๐ก๏ธ
#ATOM #Cosmos