The price of Cosmos (ATOM) shows signs of a potential bullish reversal after finding support near key levels, as noted by analyst Jonathan Carter. Technical indicators, including MACD and RSI, suggest upward momentum may be building. Traders are watching resistance levels at $2.80, $5.50, and $8.00, with a broader target of $14.50 if the recovery continues.
Cosmos (ATOM) is trading at $1.90, having declined 2.29% in the past 24 hours but gained 4.26% over the last week. According to CoinMarketCap, its market capitalization stands at approximately $948 million with a 24-hour trading volume of $56 million.
Crypto analyst Jonathan Carter stated that ATOM is holding strong at the lower boundary of its long-term descending channel. He noted the price is respecting a key support zone, with early signs of a reversal emerging.
Traders are watching closely, as a confirmed bounce could signal renewed bullish momentum. If the bounce continues, ATOM could be targeting $2.80, then $5.50, $8.00, $10.50, and $14.50 in successive moves.
According to TradingView analysis, the market shows a trend change from bearish drift to consolidation. The price touched a local low at $1.72 before testing the 20-day simple moving average at $1.84.
Technical oscillators indicate a neutral-to-bullish rebound. The relative strength index is at 48.99, indicating a balanced market, while the MACD has shown a bullish crossover with rising green bars on the histogram.
