Cosmos (ATOM) has maintained a strong upward trajectory. Over the past week, it climbed steadily from around $1.93 to a recent high near $2.50 before slightly pulling back.
The price reflects consistently higher highs and higher lows, signaling sustained bullish momentum as buyers continue to step in on minor dips.
At the time of writing, ATOM is trading around $2.36, holding firmly above the $2.30 zone after the recent spike. The overall structure suggests growing short-term strength, with price action indicating continued investor interest and positive market sentiment.
Also Read: Cosmos (ATOM) Reaches Make-or-Break Level as Long-Term Downtrend Persists
ATOM Breakout Eyes $2.70 as Bulls Hold Control
However, a crypto analyst named AltCryptoTalk has highlighted that Cosmos (ATOM) has broken through its previous major swing high, indicating a bullish change in the market’s structure.
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. The price action reflects the confidence of the buyers, as the sellers are unable to drive the price back below the level.
Currently, ATOM is grinding higher in its defined rising channel, which is indicative of a steady uptrend. So long as this uptrend holds, experts predict this trend will continue towards its $2.70 price target.
However, there is caution from traders, as they look to see if this is indeed a breakout continuation or a bull trap.
Cosmos (ATOM) Technicals Signals Bullish Momentum
From the 4-hour chart on TradingView, ATOM has a clear bullish structure after bouncing back from the range of $1.85 to $1.90.
The asset is consistently trading above its 20 EMA, 50 EMA, and 100 EMA, which indicates strong short-term buying pressure.
The rising EMAs also point to the dominance of the buying pressure, with the asset being bought back on dips in the ongoing trend.
The Bollinger Bands are also expanding, which shows that the asset is becoming more volatile as it moves towards the higher band at $2.42.
This shows that there is strong bullish pressure on the asset. However, it is also possible that there might be some short-term corrections. As long as the asset is holding above the EMA cluster at $2.25-$2.27, the trend is likely to continue.
Also Read: Cosmos (ATOM) Poised for Surge: Could Hit $3 Soon!