@cryptonite 24 June 2020 more from that month

Cosmos (Atom) key moment for the future trend

Hello everyone, today I would talk about **Cosmos Atom**, we can call this coin the king of **interoperability**, **Atom** (the token that is used on **Cosmos** **Blockchain**) is by far the most capitalized coin among the family of the crypto that focused on interoperability. This innovative crypto is drawing an interesting pattern, an **ascending triangle**, usually this pattern end up with a jump on the upward, anyway the trading day is pretty negative and the valuation are close to the **uptrend**, in this case we may pay a lot of attention for the next movement.

Lets see the 1 year chart, what we notice is that the ascending **trendline** looks like pretty much solid as it was touched many times, even the movement we saw few days ago had a good reaction and the price jumped in a pretty convincing way. Even the flat upper trendline is pretty much solid as in October and march was a convincing resistance/support, even now in June we saw that **Atom** price was rejected when tried to breakup the **resistance**. This kind of pattern usually breakup in a positive way with a continuation of the **uptrend**, anyway we may take a look at the main **support** levels that we could find in the case of a reverse of the actual trend, the most important **support** is placed at 2,50 Dollar, for the last 3 months this price was the  favourite battlefield between bulls and bears. If the 2,50 dollar support will be lost we probably see a **breakout** of the **trendline**, and this will move **Atom** price till the next **support** at 2,16 Dollar that is also the last level before breach the 2 Dollar area, the next stop may be at 1,85 Dollar. In the **upward** the first **resistance** is the 3,20 Dollar that would open **Atom** valuation to a bigger **uptrend**, the movement would drive the valuation till 3,54 in a first time and 3,88 Dollar after, those two **resistance** are very important for surpass the 4 Dollar area, the first resistance over this milestone is 4,38 Dollar. Now that we just take a look at the long term chart we can see if our predictions are right also in the short term chart, during the last month the chart show us that the 2,50 Dollar level is really an important support, just at few cent over the reaction is a bounce, look at the cross on the chart, every time **Atom** Price touch the valuation of 2,56 Dollar we can notice a decent **bounce upward**.

This show us two important things, first the 2,56 level is a pretty good entry point for a new trade, and the crypto is very reactive to this price that is able to catch the interest of the buyers, bulls won most of the time at this important price. Last consideration, the last time **Atom** touched exactly the 2,50 Dollar we saw a great response from the **bulls** that draw a positive trend that worth a +28.5% in a short time and stopped just at the **resistance**. That’s all for now, thanks for reading and hope you enjoy this post, always remember to do your own research before investing. You can follow me at **Publish0x**  T**witter**  and **read.cash** https://www.publish0x.com/@Cryptonite https://twitter.com/CryptoniteK https://read.cash/@cryptonite