Price action of Atom, the token

Since many days ago, the price of ATOM, the native token of the Cosmos blockchain, has been trading above the breakthrough level of $13.46; this suggests that traders are still buying on dips and that mood is still favorable. Supply and demand are in balance, as seen by the 20-day EMA ($14.22) flattening out and the RSI being close to the middle point. The short-term advantage might lean in the purchasers' favor if the price rises above $15.26. Thereafter, ATOM's cost might increase to $17.20. The pair may once again act as resistance at this level, but if buyers push the price over it, it may gain momentum and move to $20.34 and then to $25. Instead of this supposition, if the price declines and breaches the 12.90-day SMA, The bears could perhaps gain the upper hand. Then the pair might drop to $10.

For a while now, ATOM has been stuck between $13.45 and $17. Buyers are seeking to raise the price above the 50-SMA after tenaciously defending the $13.45 support level. The possibility of a rally to $16 and then to $17 rises if they do that. On the other hand, it will indicate that bears will continue to sell on rallies if the price moves lower from its current level and breaks below the 20-EMA. The price can be forced toward the $13.45 strong support as a result. To open the door for a potential drop to $11.50, the sellers will need to bring the pair down below $13.