Cosmos (ATOM) has climbed from around $1.93 to a high near $2.50, establishing a bullish structure above the $2.30 support level. The cryptocurrency broke through its prior major swing high, signaling strong buying pressure and a potential continuation toward the $2.70 price target. Technical analysis on the 4-hour chart shows the price consistently trading above key moving averages, indicating short-term buyer control.
Cosmos (ATOM) has maintained a strong upward trajectory, climbing from around $1.93 to a recent high near $2.50 before a slight pullback. The price action shows consistently higher highs and lows, indicating sustained bullish momentum.
At the time of writing, ATOM trades around $2.36, holding firmly above the $2.30 support zone. This structure suggests growing short-term strength and continued positive market sentiment.
Analyst AltCryptoTalk highlighted that Cosmos has broken through its previous major swing high, indicating a bullish change. The fact that it broke through the resistance level indicates that the bulls are in control, as the price shows signs of increased buying strength.
ATOM is now grinding higher within a defined rising channel, indicative of a steady uptrend. Experts predict this trend could continue toward $2.70, though traders are watching to see if this is a genuine breakout continuation.
From the 4-hour chart, ATOM displays a clear bullish structure after bouncing from the $1.85 to $1.90 range. The asset is consistently trading above its 20, 50, and 100-period Exponential Moving Averages, showing strong short-term buying pressure.
The rising EMAs point to buyer dominance, with the asset being purchased on dips. Expanding Bollinger Bands show increased volatility as the price approaches the upper band at $2.42.
