- Cosmos price recorded a downtrend break, followed by a breakout and subsequent retest of the $11.22 key level.
- ATOM could extend to the top of the range at $17.19 for a 30% swing trade.
- A break and close below $10.00 psychological level would produce a lower low, invalidating the bullish thesis.
Cosmos (ATOM), which set out to make blockchain technology less complex for developers with its modular framework that demystifies decentralized apps, could be the next token to rally as meme coins and g AI crypto coins surge.
Also Read: Cosmos price likely to bounce 10% as ATOM overcomes key resistance
Cosmos price confirms breakout
Cosmos (ATOM) price escaped the confines of a descending parallel channel on February 27, but the move proved premature on the three-day time frame. However, a subsequent move on March 1 materialized as the ATOM price managed to close above the channel.
With the March 4 retest on the 3-day chart below, Cosmos price could finally be ready for an extended move north, with the next possible stop being the top of the range at $17.19, levels last seen in September of 2022. Such a move would constitute a 30% climb above current levels.
The volume indicator shows large bars, suggesting a strengthening price trend. The northbound Relative Strength Index (RSI) also points to rising momentum, increasing the odds for further upside.
In a highly bullish case, Cosmos price could clear the $17.19 blockade, potentially extending to hit the $20.00 psychological level. This would denote a 50% climb above current levels.
ATOM/USDT 3-day chart
On the flip side, a rejection from the $13.16 roadblock could see Cosmos price retract, potentially retesting the $11.22 support. An extended fall could see ATOM price slip below the $10.00 psychological level. A candlestick close below this level on the 3-day time frame would produce a lower low, potentially invalidating the bullish thesis.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Bitcoin holds $84,000 despite Fed’s hawkish remarks and spot ETFs outflows
Bitcoin is stabilizing around $84,000 at the time of writing on Thursday after facing multiple rejections around the 200-day EMA at $85,000 since Saturday. Despite risk-off sentiment due to the hawkish remarks by the US Fed on Wednesday, BTC remains relatively stable.
Crypto market cap fell more than 18% in Q1, wiping out $633.5 billion after Trump’s inauguration top
CoinGecko’s Q1 Crypto Industry Report highlights that the total crypto market capitalization fell by 18.6% in the first quarter, wiping out $633.5 billion after topping on January 18, just a couple of days ahead of US President Donald Trump’s inauguration.
Top meme coin gainers FARTCOIN, AIDOGE, and MEW as Trump coins litmus test US SEC ethics
Cryptocurrencies have been moving in lockstep since Monday, largely reflecting sentiment across global markets as United States (US) President Donald Trump's tariffs and trade wars take on new shapes and forms each passing day.
XRP buoyant above $2 as court grants Ripple breathing space in SEC lawsuit
A US appellate court temporarily paused the SEC-Ripple case for 60 days, holding the appeal in abeyance. The SEC is expected to file a status report by June 15, signaling a potential end to the four-year legal battle.
Bitcoin Weekly Forecast: Market uncertainty lingers, Trump’s 90-day tariff pause sparks modest recovery
Bitcoin (BTC) price extends recovery to around $82,500 on Friday after dumping to a new year-to-date low of $74,508 to start the week. Market uncertainty remains high, leading to a massive shakeout, with total liquidations hitting $2.18 billion across crypto markets.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.