Cosmos Price Analysis – April 28
The Cosmos price may find a halt at $19 as the market price is down by 3.66% after touching the daily high of $20.8.
Resistance levels: $25, $27, $29
Support levels: $15, $13, $11
ATOM/USD price may continue to drop until it finds support at the expected level of $18. Moreover, the daily chart reveals that the Cosmos is currently trading below the 9-day and 21-day moving averages. If the bears continue to push the market further lower, the immediate support level may be located. Therefore, towards the lower boundary of the channel, further, supports could be located at $15, $13, and $11.
Cosmos Price Analysis: Cosmos Downtrends May Continue
As the daily chart reveals, if the buyers can hold the support at $19 and the price begins to climb higher, the bulls may expect immediate resistance to be located at $24 which is above the 9-day and 21-day moving averages. Above this level, higher resistance lies at $25, $27, and $29. The technical indicator Relative Strength Index (14) may soon cross into the oversold region if the bears put more pressure.
ATOM/BTC Market: Keeps Moving to the South
Against BTC, the Cosmos price stays below the 9-day and 21-day moving averages. Therefore, in as much as the price actions keep respecting the channel formation, Cosmos may remain perpetually under the control of bears. However, the bulls may need more strong and more consistent resistance to snatch the prize from the bear run.
For now, if ATOM/BTC failed to break above the moving averages, it may reach the critical support at 450 SAT and below. On the other hand, if the market breaks to the upside, the Cosmos price may hit the resistance level of 600 SAT and above. More so, the technical indicator Relative Strength Index (14) is moving into the oversold region, which confirms the bearish movement.