$ATOM Currently, Cosmos ($ATOM) is facing resistance at the upper boundary of a descending triangle pattern on the weekly chart. This type of pattern often suggests a possible breakout or a reversal, so it's crucial to watch for price action near this level.

Key Levels:

Support Zone: The price has recently bounced off the support level around $6.10. This zone is important, as it has historically been a strong area of buying interest.

Resistance Zone: The upper boundary of the descending triangle, which is acting as resistance, needs to be overcome for any potential upside movement.

Price Targets:

If the support at $6.10 holds and the price breaks above the resistance, the following target levels could be reached:

1. Target 1: $10.00

2. Target 2: $15.50

3. Target 3: $21.50

4. Target 4: $32.50

These are the levels where you may want to take partial profits or consider selling.

Buy Zone:

Ideal Buy Zone: If the price bounces from the support level around $6.10, you may consider entering a position near this zone. A good entry would be on a confirmed bounce or break above the resistance line.

Stop-Loss:

Stop-Loss Level: To minimize risk, place your stop-loss below the support zone at around $5.50. This ensures that if the price fails to hold the support, your loss is limited.

Conclusion:

Buy Zone: Near $6.10 (with confirmation of bounce).

Target Zones: $10.00, $15.50, $21.50, $32.50.

Stop-Loss: $5.50.

Make sure to monitor the market closely for any signs of a breakout or failure to hold support. Always use risk management to protect your capital.

This analysis assumes you're aware of market conditions and trade with caution.

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