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Possible 7+% Bullish Breakout For ATOM: Predicts Crypto Trader

Published 19/07/2023, 11:24
Possible 7+% Bullish Breakout For ATOM: Predicts Crypto Trader

  • A crypto analyst predicted that ATOM was ready to break out of a falling wedge pattern on its hourly chart.

  • However, the daily chart for ATOM was less bullish than the 1-hour chart.

  • At press time, ATOM was trading at $9.34 after its price dropped by 0.31%.

Well-known crypto trader and analyst Ali Charts, shared on Twitter earlier today that Cosmos (ATOM) was ready to break out of a falling wedge pattern on its hourly chart. This could be an extremely bullish sign for the altcoin as the trader pointed out that it could lead to ATOM’s price rising by more than 7%.

Daily chart for ATOM/USDT (Source: TradingView)

However, the daily chart for ATOM was less bullish than the 1-hour chart mentioned in Ali Charts’ post. At press time, the 9-day EMA line was attempting to cross below the 20-day EMA line. Should this cross happen, it will indicate a short-term trend change for ATOM from bullish to bearish.

If this potential bearish technical flag is validated, then ATOM’s price may be at risk of dropping to the next key support level at $8.904 in the coming 24-…

The post Possible 7+% Bullish Breakout For ATOM: Predicts Crypto Trader appeared first on Coin Edition.

The post Possible 7+% Bullish Breakout For ATOM: Predicts Crypto Trader appeared first on Coin Edition.

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