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Can Buyers Prevail Over Sellers? – Cryptovibes.com – Daily Cryptocurrency and FX News

Can Buyers Prevail Over Sellers? – Cryptovibes.com – Daily Cryptocurrency and FX News


ATOMUSD Price Analysis – June 19

Cosmos may break above the resistance level of $15 provided the bulls increase their pressure; above it are $17 and $21 resistance levels. Should the $15 resistance level holds, the price may break down the support level at $11 further increase in the bears’ pressure may push down the price to $8 and $5.

DOT/USD Market

Key levels:

Resistance levels: $15, $17, $21

Support levels: $11, $8, $5

 

ATOMUSD Long-term Trend: Bearish

ATOMUSD is bearish on the daily chart. Cosmos price reached the high of $29 on May 09. The price falls to the low of $11 with strong bearish momentum. The coin becomes range-bound within the resistance level of $15 and support level of $11 since May 24. The bulls made attempts many times to break up the resistance level of $15 but unable because of the strong resistance level. The bears’ momentum was not enough to break down the support level of $11. Ranging movement may continue until there is a breakout at $15 or $11 levels.

Cosmos daily chart, June 19

The price is trading below and in between the two EMAs as a sign of ranging movement but the fast Moving Average (9 periods) remains below the slow Moving Average (21 periods EMA). Cosmos may break above the resistance level of $15 provided the bulls increase their pressure; above it are $17 and $21 resistance levels. Should the $15 resistance level holds, the price may break down the support level at $11 further increase in the bears’ pressure may push down the price to $8 and $5.

ATOMUSD medium-term Trend: Ranging

ATOMUSD is ranging in the 4-hour chart. The coin is experiencing a long time ranging movement between the $15 resistance level and $11 support level. The bulls lost their momentum when the price reaches the resistance level at $15; the price could not increase further. At the moment of writing this report, the bears are yet to gain more momentum to pushing down the coin to break the support level of $11.

Cosmos 4 hour chart, June 19

The two EMAs are interlocked to each other and the currency pair is hovering below and above the 21 periods EMA and 9 periods EMA which indicates that ranging movement is in progress. The relative strength index period 14 is at 50 levels and the signal lines pointing down to indicate sell signal.



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