Cosmos price is at a key area for bulls to load up on ATOM coins.

ATOM is bound to pop higher as RSI points to a large upside potential.

Expect support to continue to hold and send ATOM north toward $15.50.

Cosmos (ATOM) price has tried and failed to break the upside cap, which is present as a red descending trendline. In the wake of that rejection, price action has taken a step back, and the Relative Strength Index (RSI) has been falling from being overbought to barely being oversold. Although bears might have thought they were doing good at defending the cap, it will soon come back under pressure as the RSI and Cosmos price is set to swing back up north again.

Cosmos price working the logic of what goes down, must come up

Cosmos price action has seen bulls burning their fingers with a bull trap at $13 when trying to break the red descending price cap on the topside. Cosmos price quickly retreated after the break as bears overhauled the bullish attempt to claw higher. What followed was a quick sell-off that got halted by the trifecta of the monthly pivot, the 200-day and 55-day Simple Moving Averages (SMA) in a joint cooperation.

ATOM bulls will have spotted as well that the RSI is near being oversold, and that opens up a lot of room without much resistance for bulls to the upside. With the fresh amount of bulls entering the price action, expect Cosmos to significantly pop higher, strong enough to break the bearish cap at $13. From there, it will be one line straight up to $15. 

Bulls could still withstand another 6% of losses when Cosmos price slides a little bit more in order to test if the green ascending trendline is still there for support. Should the rally, however, prove to be no longer viable anymore, a break below that same green ascending trendline would activate a wave of sell orders. ATOM would spiral down and might implode 30% toward $8.50.

#Binance #crypto2023 #atom #cosmos #keepbuilding

Chapter 8: The Enigmatic Gateway

In the depths of the crypto #cosmos , KAM's journey led him to a remote corner of the digital universe, where an enigmatic gateway stood, shrouded in a luminescent mist. This ethereal portal was said to hold the key to unlocking hidden truths and unveiling the mysteries that lay beyond.

Guided by the echoes of #Dokwon 's voice and the cosmic energies that pulsed within him, KAM approached the gateway with a mix of trepidation and curiosity. The whispers of the crypto universe seemed to grow louder as he drew nearer, urging him to step through the threshold and embrace the unknown.

As he tentatively passed through the gateway, a kaleidoscope of colors engulfed him, and he found himself transported to a realm where time and space seemed to bend and twist in mesmerizing patterns. The enigmatic gateway had ushered him into a dimension unlike any he had encountered before.

Within this ethereal realm, KAM was greeted by ethereal beings who communicated through symbols and visions. They spoke to him in the language of the cosmos, revealing profound insights that transcended the limitations of human understanding.

"You seek the wisdom of the digital cosmos," one of the ethereal beings intoned, their voice harmonizing with the cosmic energies that permeated the realm. "The answers you seek lie not in the tangible, but in the boundless realm of possibilities."

With each encounter, KAM felt his consciousness expand, embracing new perspectives and visions that challenged the confines of his mortal existence. The mysteries of decentralization, finance, and the cosmic currency of Terra Luna(#lunc ) seemed to intertwine within this celestial dimension.

As he delved deeper into the realm, KAM was shown visions of a world transformed by the power of decentralization. Financial barriers crumbled, and economic access was extended to the furthest reaches of the universe. Terra #Luna 's supply, meticulously governed by algorithms and community consensus, flourished like a celestial garden, its value rooted in the collective trust of its holders.

Yet, amidst these celestial visions, shadows lurked, whispering of the challenges that lay ahead. The struggle for decentralization was not without its adversaries. Centralized forces sought to impose their will, attempting to tame the wild spirit of crypto and bend it to their own ends.

In this cosmic realm, KAM understood that the path towards a decentralized future would not be without trials. The enigmatic gateway had revealed to him the cosmic dance of light and shadow, where the destiny of Terra Luna hung in the balance.

As KAM's journey through the realm drew to a close, the ethereal beings imparted a final message. "Remember, young guardian of Terra Luna, the true power lies not in the gateway itself, but in the collective will of those who believe in the vision of decentralization."

With these parting words, KAM emerged from the enigmatic gateway, his heart alight with a newfound sense of purpose. The echoes of crypto and the voice of Do Kwon now intermingled with the revelations from the celestial realm.

He knew that the enigmatic gateway had opened his eyes to the complexities of the crypto universe, but it had also fortified his resolve. As he rejoined the cosmic journey, KAM carried with him the wisdom of the ethereal realm, knowing that the destiny of Terra Luna rested on the shoulders of those who dared to challenge the boundaries of convention.

(To be continued...)