coinedition.com
A famous crypto analyst Income Sharks tweeted that ATOM is worth the risk at its current level. The popular crypto analysts analysis was based on ATOM’s alts, which are a little over extended, while other short term scalps have tight stops that look like good enough risk to reward setups.
Income Sharks anticipates that ATOM will skyrocket at the current levels that it has reached. This bullish momentum will continue further since it broke its key resistance level at $10.4. This shows that ATOM will go to the moon.
A bullish trend has dominated ATOM charts over the previous 24 hours, according to ATOM research. The coin is now valued at $11.73, a rise of 3.90% in the previous day alone. The general optimism of the crypto market, which has grown as a result of gains in previous trading sessions, is supporting this optimistic trend.
Additionally, the important resistance level being broken has acted as a catalyst, removing the bulls’ main obstacle to an upswing.
Market capitalization rose by 3.63% to $3,357,585,621 during the upswing, and 24-hour trading volume rose by 27.90% to $167,414,105. This change demonstrates that investors’ optimism about ATOM’s market potential is positive.
Currently, the price of ATOM has crossed the upper band, signalling a bullish trend. Furthermore, the relative strength index (RSI), which is currently at 77.90 and has advanced into the overbought region, suggests that prices may skyrocket to $13.4 resistance level after a breakthrough. Daily movement of the MACD line (blue) above the signal line suggests that the bullish momentum is intensifying (orange).
The upward trend of this MACD line and its progress toward the positive area indicate that the ATOM market will continue to be dominated by bulls. The more the histogram moves into the green area, the more likely it is that this bullish prediction will come true.
Despite the bears’ attempts at reversal, the market has built a modestly positive trend line, according to the 4-hour ATOM price analysis. In the last four hours, the prices haven’t altered all that much. In the short run, before a turn around, the bears are predicted to keep prices at a slight low of $11.766. In terms of potential price movements, the rising volatility of the ATOM/USD pair is also encouraging for buyers.