Regardless of Thursday’s selloff in cryptocurrencies, cosmos managed to hit its highest degree within the final week. The rally got here as one among yesterday’s huge gainers, THETA, slipped in at the moment’s session.
Cosmos (ATOM) moved increased in at the moment’s session, regardless of the worldwide cryptocurrency market cap falling by over 3% as of writing.
ATOM/USD rose to a peak of $30.79 earlier at the moment, following its climb from yesterday’s low of $27.97.
This current surge within the worth of ATOM, comes after a Valentine’s day bounce of its help degree at $25.90.
Since being hit by cupid’s arrow, ATOM/USD has had 4 consecutive classes of upper highs, resulting in Thursday’s run.
At this time’s transfer additionally noticed ATOM get away of its resistance degree at $29.20, nonetheless because the day progressed, profit-takers liquidated positions, resulting in the 1D candlestick fading.
This false breakout has additionally seen the 14-day RSI held at resistance of 47, a degree which it has been unable to climb over within the final 10-days.
Ought to worth power be lessening, we could quickly see some consolidation within the worth of cosmos.
Though SAND, AXS, and LEO had been all deep into the crimson on Thursday, it was THETA that fell by probably the most within the prime 100.
Coming off the again of a $3.98 excessive yesterday, THETA fell to a low of $3.60 throughout at the moment’s session, nearing a ten% loss within the course of.
Thursday’s selloff started after costs approached the resistance of $4.00, and now look set to fall to help at $3.48.
Worth power additionally light, with the RSI falling to its personal help of fifty.20, after being held up at resistance at 58.65.
Many now wait to see if THETA will proceed with this consolidation, and commerce sideways between help and resistance.
Nonetheless, so long as we proceed to linger at these ranges, bulls will seemingly proceed to circle.
Will THETA rebound in tomorrow’s session? Tell us your ideas within the feedback.
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