1660936694757 2bce7365 8a9b 48a9 b4ef 5697d6fdd202 SYJOpC Cosmos token forms a Doji signal after a retracement. What does it mean?

Cosmos token forms a Doji signal after a retracement. What does it mean?

Cosmos token has maintained an uptrend since June.

There are speculations for a greater utility of ATOM with Cosmos 2.0.

ATOM is a buy but expecting a retracement.

Cosmos ATOM/USD has been one of the strongest cryptocurrencies lately. Since mid-June, the cryptocurrency has maintained a system of higher highs and higher lows. ATOM is also yet to break below the 50-day moving average since July. What is the possible reason for the sustained surge?

Speculations around Cosmos 2.0 could be attracting ATOM buyers. Cosmos 2.0 is expected to enhance the interoperability, functionality, and overall Cosmos infrastructure. There is no specific date for it. However, the discussions are expected to rise during the Cosmoverse 2022 event kicking up on September 28. The conference will also see more side events, including the Osmos Dex and Loop Finance.

ATOM price reaction and prediction after Doji signal


eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.

Buy ATOM with eToro today


OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in.

OKX takes customer security very seriously, they store almost all of their clients’ funds in cold storage, and the exchange is yet to be hacked.

On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.

Buy ATOM with OKX today

A Doji is an important price signal for a technical reader. It is characterized by a candlestick showing an equal or almost the same opening and closing price. The candlestick conveys indecision between buyers and sellers. 

After retracing from a high of $17, ATOM formed a Doji signal at the minor support of $13. It signified a lack of directional bias. Since then, buyers have managed to outwit the sellers as the price shot up.

Source – TradingView

From the technical outlook, a Doji signal at the minor support took ATOM to $15. The price is experiencing some resistance. The MACD indicator shows a waning momentum in price.

Concluding thoughts

ATOM remains in a strong bullish momentum. A Doji signal at the support followed by a price surge confirmed a bullish momentum. The cryptocurrency is facing resistance, and a potential retracement could occur. Investors should consider buying on a retracement potentially at or close to $13.

The post Cosmos token forms a Doji signal after a retracement. What does it mean? appeared first on CoinJournal.

Scroll to Top