Cosmos price forecast as ATOM breaches range amid solid uptrends

The latest uptrends in the crypto market saw Cosmos breaking the $6.30 – $7.58 range, ending its consolidation mode. The upside move indicates magnified bullish momentum within the ATOM ecosystem, signaling a possible start of a solid surge. The token traded at $7.49 at press time, gaining 1.93% over the past 24 hours.

ATOM 24-Hr chart on Coinmarketcap

Cosmos targets more upside

ATOM printed the $6.30 – $7.58 range during the initial half of September. The altcoin breached this territory following a 10% upswing on 30 October. The solid breakout indicates amplified buying momentum.

Meanwhile, a retest of $0.748 as a foothold can present an opportunity to purchase ATOM. Also, such a pullback will see the RSI indicator retesting to welcome more buyers. A decisive bounce back from $7.58 might catalyze upswings to flip $8.42 into support before opening the path toward the obstacle at $10.81.

That would translate to a 42% surge from $7.58 and a nearly 30% upswing from $8.42. Positive developments within the Cosmos network and optimism in the overall market will support ATOM’s upward trajectory.

This #Bitcoin Weekly candle close is SUPER BULLISH! 🚀 pic.twitter.com/LrKZ2EvbYs

— Crypto Rover (@rovercrc) October 30, 2023

Bitcoin remains poised for extended surges amidst spot BTC ETF optimism. Its bullish weekly candlestick closing suggests more uptrends for BTC and the cryptocurrency market.

However, sudden selling momentum will ruin the bullish stance. That will see Cosmos price dipping and a 24-hour candle closing beneath $6.93 will cancel the upside journey, possibly plunging ATOM to $6.28 – a 9.45% dip.

The post Cosmos price forecast as ATOM breaches range amid solid uptrends appeared first on Invezz

Source