The Cosmos Hub (ATOM) cryptocurrency shows signs of an impending price breakout. A 12.5% rise has brought ATOM to $4.57, capturing traders' attention.
Technical Indicators and Breakout Patterns
ATOM maintains a downward trend channel, with its price consistently rejecting from the upper boundary. Breaking out of this trading pattern would confirm upward price movement toward new resistance areas.
ATOM Poised for Breakout
Market participant interest has risen according to recent trading volume increases. The Relative Strength Index currently stands at 40.90, demonstrating neutral momentum. Meanwhile, the MACD line stands above the signal line, suggesting positive momentum.
Key Levels to Watch
Breaking through the descending trendline would put the next resistance at $6.50 and potentially lead the price to $7.50. Current price swings, ranging between $4.06 and $4.57, indicate steady market volatility and a bullish market direction.
ATOM's price fluctuations heavily depend on the global market attitude. The current Bitcoin stability above $82,000 creates better conditions for altcoins to thrive, including the ATOM token.
