📊 Analysis of
$ATOM on the daily timeframe
Hey guys,
$ATOM is at $1.228 with a sharp drop of -5.17%, and continues in a strong bearish trend from the high of $2.037 👀
✅ Positive news: Cosmos Labs co-CEO discusses a partnership with dYdX and Robinhood — important expansions and strategic partnerships for the project despite the current price pressure.
Indicators:
Price is below all moving averages by a wide margin, MACD is negative at -0.015 and still under pressure, and RSI(6) at 9.6 means extremely and unusually oversold — a very strong technical rebound is possible 🧠
Suggested entry: $1.222 — $1.228 (very cautious entry)
🎯 Target 1: $1.361
🎯 Target 2: $1.540
🎯 Target 3: $1.898
🔴 Stop loss: below $1.1
About the coin ⚛️
Cosmos or
$ATOM is a blockchain network focused on connecting different blockchains and creating an “internet of blockchains.” Partnerships with major platforms like dYdX and Robinhood provide core support for the project despite the current price pressure.
⚠️ RSI is extremely low — a strong rebound is likely, but the bigger trend is still strongly bearish and the risk of continued downside remains. Trade responsibly and we must stick to the stop loss. 🛡️
#ATOM #Cosmos