Cosmos (ATOM): Another Rejection From 200EMA
Updated
Cosmos has had another rejection from 200EMA where the price is now possibly going towards the lower support zone.
As we had another rejection / fakeout, we think that price will bounce from one side to another until it is pressured from both sides (end of triangle formation).
Swallow Team
As we had another rejection / fakeout, we think that price will bounce from one side to another until it is pressured from both sides (end of triangle formation).
Swallow Team
Note
Cosmos has had a nice 6% market price movement after another rejection from 200EMA.
As price is still looking for a target, we are most likely going to trade in between those lines of lower support and the upper 200EMA.
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