ATOM surges 12% on Tuesday, hitting a 5-day high.
Looking at the chart, today’s move came as the token briefly broke out of a key resistance level of $11.55.continues to trade above this ceiling, however earlier gains have faded, with price currently at $11.56.
Overall, it appears as if previous bulls have turned bearish, liquidating their positions shortly after today’s breakout.In addition to cosmos, near protocol was also in the green in today’s session, as prices rebounded following recent losses.Yesterday saw NEAR briefly fall below its support point at the $4.10 level, however bulls rejected a full break, and instead bought the dip.
As seen on the chart, the floor of 38.15 avoided a breakout of its own, and as of writing RSI is tracking at 43.45. The next target for bulls is likely $4.70, however this will be made difficult following a downside cross of the 10-day and 25-day moving averages, which could be signaling the prospect of further mid-term declines.Tags in this story
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