Cosmos (ATOM) Testing Key Support – Breakdown or Bounce Ahead?
Cosmos (ATOM) is currently trading at $4.610, down 0.65%, and showing signs of bearish momentum after multiple rejections around the $4.75–$4.80 zone. The current price action is approaching a key support near $4.60, which, if broken, could lead to a drop toward $4.53 or even $4.50. However, if bulls defend this zone, we may see a short-term bounce back to $4.68–$4.72. Traders should watch for volume confirmation before entering. Momentum currently favors bears, but support holds the decision point.
Trade Setup:
Entry: $4.60 – $4.62
Targets: $4.68 / $4.75
Stop-Loss: $4.56