Cosmos (ATOM) is moving into the blue zone from where the price can rise sharply

Cosmos (ATOM), known for its unique interoperability between different blockchains, is the focus of this analysis. We focus on the price forecast for ATOM for the coming period with an analysis from our premium environment

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Technical Analysis Cosmos (ATOM)

Analysts at Crypto Insiders expect a possible turning point in the price of ATOM. They recently announced the following in the Premium environment:

“ATOM has been showing sideways movement for some time, which fits well with the WXY Elliott wave pattern. It is noticeable that the X wave has exactly reached the 161.8% Fibonacci level at $10.72, a point where there is a lot of resistance. It appears that the price is starting to decline from this level, which is in line with the expectations of this pattern as we are now at the beginning of the Y wave.

This Y wave is expected to move towards an important zone, the lower blue zone, which lies between $7.72 and $8,619. This zone contains several important levels that can influence price action and provide support.

From this zone we expect a period of consolidation during which the price will stabilize and eventually start a new increase. We continue to monitor developments around ATOM and will regularly update our analysis for our members.”

Date of analysis: February 21st. Link to trading view:

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