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- ATOM bulls roared again to life with 10% features within the final 24 hours.
- Sellers suffered huge losses within the aftermath of the bullish rally.
Cosmos [ATOM] registered 10.4% features over the previous day to consolidate its bullish rebound above the $7 value stage. Beforehand, the bullish rebound from 12 September encountered a gentle hurdle on the $7 resistance stage.
Learn Cosmos’ [ATOM] Worth Prediction 2023-24
Nonetheless, patrons rallied strongly to flip the extent from resistance to assist.
As of press time, ATOM traded at $7.3 with patrons eager to amplify long-term features with a push to the $8 value zone. In the meantime, Bitcoin [BTC] pushed from $26.8k to $27.3k throughout the previous day to spotlight robust bullish sentiment returning to the market.
Patrons claimed key resistance stage to sign long-term bullish intent
Supply: ATOM/USDT on Buying and selling View
Over the previous week, ATOM patrons got here out strongly to halt the altcoin’s value dip. The shopping for strain between 12 September to 17 September took ATOM from $6.2 to $7 (resistance stage).
This was additionally mirrored within the Relative Power Index (RSI) surging quickly from 29 to 63, revealing the numerous buying energy of bulls.
Regardless of a slight dip on the $7 resistance, Bitcoin’s rally to $27k spurred one other value pump for ATOM, with patrons efficiently flipping the $7 value zone to assist.
With the On Stability Quantity (OBV) rising from 188 million to 191 million, patrons can anticipate to register extra features within the mid to long run. Revenue ranges exist for patrons at $8 and $8.5 earlier than one other value hurdle on the $8.9 resistance stage.
Shorts can bid their time for a retracement on the $8 – $8.2 value zone, because it represents a decrease low from the earlier bearish swing.
How a lot are 1,10,100 ATOMs price in the present day?
Shorts caught out by bullish features within the futures market
Supply: Coinglass
The ten% features by bulls over the previous day led to brief losses price $225.15k, as sellers had been caught napping. This translated to 87.3% of the overall liquidations over the interval, in accordance with liquidation knowledge from Coinglass.
This highlighted the bullish demand for ATOM, with patrons trying to prolong their benefit within the mid-term.
