Cosmos (ATOM) is gaining a strong bullish momentum, as it jumps over 14 % in the past 24 hours, as technical indicators have been overwhelmed by the possibility of more upward trend. The Relative Power Index of the Distinguished Code (RSI) increased from deep sales levels to excessive lands in the peak, highlighting an aggressive wave of purchase pressure.
On the Ichimoku Cloud chart, ATOM was broken over the cloud with the formation of upscale transitions, indicating a reflection in the possible direction. As the price approaches the main resistance area, traders closely monitor to see if the ATOM can maintain this penetration and push towards the $ 6 mark in April.
Cosmos RSI is close to excessive peak levels
Cosmos witnessed a sharp momentum, with the RSI to 68.11 after sitting in just 29 just four days ago.
This rapid height indicates a strong purchase of purchase over a short period, indicating a significant shift in feelings. RSI is a momentum that measures the speed and change of price movements, with values ranging from 0 to 100.
Usually the reading below indicates that the original is exaggerated and it may be due to it, while the above reading indicates that it may be purchased from his arm and can be prepared to withdraw.
As RSI approaches ATOM now to the excessive peak threshold in 70, it indicates that the recent price increases may be on the verge of exhaustion-at least in the short term.
While the over 70 collapse can indicate a strong upward continuation, high RSI levels also come with caution, as traders may start achieving profits or re -evaluating entry points.
If the momentum is steadfast, ATOM can push to the peak area and expand its gains. However, if buyers begin to fade, the price may see some cooling in the short term as the market digests from the last increase.
Atom Ichimoku Cloud shows a bullish preparation
Cosmos displays a bullish interruption on the Ichimoku Cloud chart. The price has moved decisively over the cloud, indicating a possible reflection.
The Blue-Sen transformed line has turned sharply up and now sit over the Kijun-Sen, which is a classic bullish intersection.
This alignment reflects the increasing momentum in the short term and can support more upward trend if it is.
In addition, the leading period (the boundaries of the green cloud) began in the curve up, while the leading category B (red border) began to settle.
This shift causes the next cloud to get rid, indicating that the declining pressure weakens. With a higher price of the cloud and the later explosion (Chikou) over the recent prices, the total setting is upward.
Will Cosmos rise to $ 6 in April?
With the last prices increase, Cosmos Price is close to the main resistance level at $ 5, and the collapse can pave the way for the road to achieve more gains about 5.5 dollars and up to $ 6.
The current alignment of EMA lines shows the growing bullish momentum, and a golden cross-where EMA is formed in the short term in the long term-for the formation. If this is confirmed, this signal can attract more buyers and enhance the possibility of an ongoing upward step, especially if the size supports the penetration.
However, if ATOM fails to keep its momentum and reject the price when resistance, the trend may be reflected towards the main support levels.
The first field of viewing is about $ 4.83, and the collapse below may lead to more losses. 4.47 dollars and $ 4.17 are possible negative goals.
Disintegration
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