The worth of Cosmos (ATOM) may very well be set for a wild rally with a possible breakout towards Tether (USDT) forward of summer time aid for altcoins.
Ethereum worth noticed a aid bounce from $1,600 to $1,800 forward of merge sentiments resulting in different altcoins like Cosmos breaking out in worth. (Knowledge feeds from Binance)
Worth Evaluation Of ATOM On The Weekly Chart
From the chart, the worth of ATOM noticed a weekly low of round $6.5, which bounced from that vary and rallied to $11.3.
The worth has constructed extra momentum because it faces resistance at $17.
If the worth of ATOM on the weekly chart continues with this bullish construction, it may shortly hit the $17 mark.
The quantity reveals respectable purchase bids, pushing the worth of ATOM increased.
Weekly resistance for the worth of ATOM – $17.
Weekly assist for the worth of ATOM – $6.5.
Worth Evaluation Of ATOM On The Every day (1D) Chart
The worth of ATOM discovered robust assist at round $6.2, with what appears to be an space of curiosity on the day by day chart.
ATOM bounced from its assist, forming a bullish trendline that acts as a assist and has continued to take care of this construction.
On the level of writing, the worth of ATOM is at $12, buying and selling above the 50 exponential transferring averages (EMA), which corresponds to the assist at $10.
If the 50 EMA area fails to carry the worth, $9 can be a very good assist to carry sell-offs and for a potential worth bounce.
With extra purchase bids, we may see the worth of ATOM retesting at $16 -$17, which has been resistance on the day by day chart.
The RSI for ATOM worth on the day by day chart is 65, indicating wholesome purchase bids for ATOM.
The quantity for ATOM appears to be like good, indicating constructive indicators for ATOM costs to pattern increased.
Every day (1D) resistance for ATOM worth – $17.
Every day (1D) assist for ATOM worth – $10, $9.
Worth Evaluation Of ATOM On The 4-Hourly (4H) Chart
The worth of ATOM has proven a bullish breakout from a symmetric triangle on the 4H chart, with the worth closing above it.
ATOM has struggled on this area, forming a spread in a triangle with worth rejecting from $11.5.
ATOM worth is $12, buying and selling above the 50 & 200 EMA with costs of $10.7 and $10 on the 4H chart. These costs would act as assist areas for ATOM on the 4H chart.
4 Hourly (4H) resistance for ATOM worth – $16.
4 hourly (4h) assist for ATOM worth – $10.7, $10.
A break beneath these assist zones may ship the worth of ATOM to a area of $9, performing as a very good assist space.
Featured picture from NewsBTC, Charts from TradingView.com 
