In a nutshell, Cosmos bills itself as a project that solves some of the “hardest problems” facing the blockchain industry. It aims to offer an antidote to “slow, expensive, unscalable and environmentally harmful” proof-of-work protocols, like those used by Bitcoin, by offering an ecosystem of connected blockchains. The co-founders of Tendermint — the gateway to the Cosmos ecosystem — were Jae Kwon, Zarko Milosevic, and Ethan Buchman. Let us <a href="https://www.cryptoknowmics.com/news/atom-technical-analysis-bulls-drive-price-above-the-rising-channel/">look</a> at the technical analysis of ATOM.
<h2><b>Past Performance</b></h2>
The ATOM opened at $32.46 on 11 October 2021. The week witnessed a hill on the price chart and ended on 17 October 2021 at $32.41. There was a slight change of 0.15% over the week.

<img class="tv-snapshot-image" src="https://s3.tradingview.com/snapshots/e/EEUhX54v.png" alt="TradingView Chart" />

Source: <a href="https://www.tradingview.com/x/EEUhX54v/">https://www.tradingview.com/x/EEUhX54v/</a>
<h2><b>ATOM Technical Analysis</b></h2>
A hill was seen in the price chart across the week. The price increased up to the $35.81 level. Then the trend reversed itself, and a downtrend can be seen. The current trading price of ATOM is $32.36, which is about 0.22% down from yesterday.

<strong>OBV</strong> is showing a straight horizontal line, meaning that the buying and selling pressures are balanced. This is a neutral signal. The traders may hold their current position.

<strong>RSI</strong> is currently at 45.38%. It is on a downtrend, which is a bearish signal. The ATOM traders may take a short position here if the price drops below the support at $31.

<strong>MACD</strong> is showing that the fast line is moving below the slow line, but the gap between them is reducing. However, both are heading in a negative direction. There is no divergence from the price chart. This is a bearish signal and traders may take a short position here.
<h2><b>Day-Ahead Tomorrow</b></h2>
Fib retracement shows that the ATOM price has gone below the Fibonacci level at $32.33. This is a bearish signal and if the price continues to decline, then the next fib support will be tested at $28.83.

Thus, the indicators are more on the bearish side. The traders may take a short position by keeping the stop-loss at $31.

ATOM Technical Analysis: Price Increased up to the $35.81 Level, Trend Reversed Itself and a Downtrend Visible

ATOM Fib retracement shows that the price has gone below the Fibonacci level at $32.33. This is a bearish signal and if the price continues to decline, then the next fib support will be tested at $28.83. Thus, the indicators are more on the bearish side. The traders may take a short position by keeping the stop loss at $31. 

Ankita is reading geek by birth, she loves to read and write about finance and now cryptocurrencies and blockchain since 2017. A Bitcoin enthusiast ever since, she likes to understand businesses and how they affect everything else. Ankita contributes on our news bulletin with the latest happening in blockchain, crypto and ICO market specifically.

ATOM Technical Analysis: Price Increased up to the $35.81 Level, Trend Reversed Itself and a Downtrend Visible

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