Technical Diagnosis: Cosmos, Harmony Costs Surge on Saturday

Posted by

Technical Analysis: Cosmos, Harmony Prices Surge on Saturday

Cosmos (ATOM) and cohesion (ONE) had been some of this day’s colossal gainers, as the area crypto market cap was up 1.23% to launch the weekend. Terra (LUNA) was also elevated, extending its most contemporary beneficial properties to a sixth consecutive trading session.

Cosmos (ATOM)

Cosmos (ATOM) is at this time trading over 13% elevated in this day’s session, hiking to its perfect level since February 17.

Saturday’s rally in ATOM/USD saw prices temporarily breakout of the $29.10 resistance level, hitting an intraday excessive of $29.36 within the plot.

This surge comes as the 14-day RSI climbed to a five-week excessive, and is at this time tracking at 52.09, following a smash above 50.40.

Technical Analysis: Cosmos, Harmony Prices Surge on Saturday
ATOM/USD – Every day Chart

As of late’s excessive comes lower than 24-hours after ATOM was trading at a low of $25.27, as prices rallied encourage to pork up of $26.10.

No subject the most contemporary descending triangle on this chart, payment momentum has slowly begun to stabilize, with the nice looking averages trending sideways.

Many note this as a price of a long-term reversal, with some already concentrating on the $30.00 level.

Harmony (ONE)

The ideal gainer this day was with out a doubt cohesion (ONE), which has risen by nearly 20% within the 24-hours of trading.

As of writing, ONE/USD rose to a excessive of $0.1612 on Saturday, following a second consecutive day of sturdy beneficial properties.

ONE was trading at a low of $0.1314 the day past, which came as prices moved far from the long-term flooring of $0.1249.

This was shut to the lowest level for ONE since slack September, and was followed by a surge to resistance at $0.1650.

Technical Analysis: Cosmos, Harmony Prices Surge on Saturday
ONE/USD – Every day Chart

The 14-day RSI also will almost definitely be at this time tracking at its perfect level in ten days, following a smash from the 41.70 resistance level.

Need to gentle this momentum continue on this most contemporary direction, many bulls is usually concentrating on exits at $0.2000.

Might well well we note this happen within the upcoming week? Sigh us your strategies within the feedback.

eliman@bitcoin.com'

Eliman Dambell

Eliman brings a rather a range of level of note to market diagnosis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Shares and FX.

Picture Credit rating: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational functions easiest. It’s not a relate offer or solicitation of a proposal to steal or promote, or a recommendation or endorsement of any merchandise, services, or companies. Bitcoin.com would not present investment, tax, right, or accounting recommendation. Neither the firm nor the author is responsible, straight or in the end, for any injure or loss introduced about or alleged to be attributable to or in reference to the expend of or reliance on any assert, items or services talked about on this article.