mikeholdings's Profile | Binance Square

📊 My technical analysis of $ATOM: Are we seeing the start of a rebound?

The daily chart of Cosmos ($ATOM) is showing the first signs of recovery after it hit an important floor at $1.212. After a fairly sharp correction from the $2.298 top, price action is starting to get interesting in this area. Here are the key points I’m monitoring:

What I see on the chart (1D):

Support zone respected: The $1.212 level acted as a pretty solid floor. The bulls stepped in to defend the area and managed to stop the selloff.

Bullish MACD crossover: As you can see in the indicators, the MACD has just delivered a positive crossover coming out of oversold. The histogram printing 0.021 confirms a change in momentum in favor of buyers in the short term.

Volume behavior: We see progressive buying on the lower end, suggesting defensive accumulation at these prices.

🎯 My key levels to watch:

🟢 Critical support: $1.371 – $1.212 (If we lose this zone, the bullish short-term thesis is invalidated).

🔴 First resistance: $1.636 (My first target to confirm that the rebound has strength).

🔴 Next target: $1.874 – $2.113 (Key zone to consider a larger structure change).

My outlook:

If we manage to consolidate above the $1.37 - $1.39 range, I see a lot of probability of going after the $1.63 resistance level in the coming days. However, I’m going in cautiously: we need to see consistent volume entering to break through that first barrier.

What do you think about $ATOM for the next few weeks? Have you been accumulating at the lows, or do you prefer to wait for confirmation? I’d love to hear your thoughts in the comments! 👇