ATOMUSD major bullish break-out. 1D MA200 left.

24. Aug. 2022

Cosmos (ATOMUSD) has been trading within a Channel Up pattern since the June 18 2022 Low and on Monday started the new rebound leg to the Higher Highs (top) trend-line, exactly on the 1D MA50 (blue trend-line), confirming it as the new medium-term Support.

By doing so, it broke above a major Resistance, the Lower Highs (2) trend-line (dashed line). The next in line is the 1D MA200 (orange trend-line), which is untouched since the April 04 rejection.

Notice that among all this, the 1D MA50 crossed above the 1D MA100 (green trend-line) forming a Bullish Cross, while the Ichimoku Cloud turned green and is supporting right below the price action. The last time this set of events happened, was on August 22 2021, exactly when a massive parabolic rally was starting on ATOM.


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