Buyers’ Momentum Is Decreasing, Tamadoge Goes Stronger

Weak bullish movement in ATOM market

ATOMUSD Price Analysis – September 23

ATOM may break up the resistance level of $14 provided the bulls increase their pressure; above it are $16 and $18 resistance levels. Should the $14 resistance level holds, the price may decrease to the support level at $13, further increase in the bears’ pressure may push down the price to $8 level.

ATOM/USD Market

Key levels:

Resistance levels: $14, $16, $18

Support levels: $13, $10, $8

ATOMUSD Long-term Trend: Bullish

ATOMUSD is bullish on the daily chart. The crypto bounces from the low of $5 on June 18 when the bear’ momentum failed. Buyers take over the market and price soars to the high of $13 with strong bullish momentum. The bulls gain more pressure and it breaks up the resistance level of $13. It increases and tested $16 level on September 09.

The price is trading above the two EMAs as a sign of bullish movement but the fast Moving Average (9 periods) and the slow Moving Average (21 periods EMA) are separated. Cosmos may break up the resistance level of $14 provided the bulls increase their pressure; above it are $16 and $18 resistance levels. Should the $14 resistance level holds, the price may decrease to the support level at $13, further increase in the bears’ pressure may push down the price to $8 level.

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ATOMUSD medium-term Trend: Bullish, Tamadoge Goes Stronger

ATOMUSD is bullish in the 4-hour chart. The price could not decrease further when the bears lost their momentum at $5 level.  Buyers’ pressure pushed the price to the high of $16. The just mentioned level holds and there is no enough momentum from the sellers to push down the price. This scenario led to the ranging movement within $16 and $14 levels.

The two EMAs are close to each other and the currency pair is trading around the 21 periods EMA and 9 periods EMA which indicates that ranging movement is in progress. The relative strength index period 14 is at 46 levels and the signal lines pointing down to indicate sell signal.

Tamadoge Head of Growth Carl Dawkins spoke at a Blockchain and NFT conference as part of London Metaverse Week on Saturday, with several other TAMA holders in attendance. New crypto token presales and ICOs can often outperform bearish market conditions even if their launch day is a red day – investor sentiment, hype and optimism is highest in the early stages of a new crypto project.

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