ATOM Technical Analysis: Reversal in Rising Wedge Teases 25% Jump

The ATOM coin price action shows a bullish reversal within the rising wedge pattern which teases a 26% price jump shortly. Cosmos aims to create an internet of crypto networks connected by open-source tools that can be used to facilitate transactions between the networks. It’s this emphasis on customization and interoperability that set Cosmos above other software projects. Instead of focusing on the network it is part of, its aim is to build a network of networks that share information and tokens on a computer programmatically without a central authority in charge of the operation. Let us move ahead to read about ATOM technical analysis. Past Performance of ATOM The ATOM coin prices grew almost 20% in the last 48 hours resulting in a bullish recovery in the rising wedge pattern. The bullish engulfing candle near the support trendline of the wedge pattern which increases the chances of reversal. The 40% jump in the intraday trading volume suggests a rise in the buying pressure. Therefore, the price action hints at a 25% price jump to the resistance trendline. ATOM/USD Daily Chart ATOM Technical Analysis The ATOM coin price action shows a rising wedge pattern in the daily chart. Moreover, the lower price rejection near the support trendline suggests the ideology of a bullish reversal. The crucial EMAs (50, 100, and 200) in the 24-hour timeframe maintain a bullish alignment, and the 50 and 100 day EMAs give a bullish crossover i...