• About Us
  • Careers
  • Contact
No Result
View All Result
Wednesday, July 9, 2025
DeFi Planet
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverses
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverses
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
No Result
View All Result
DeFi Planet
No Result
View All Result
Home Markets

Risk-Averse Traders Must Ignore ATOM’s Bullish Crossover

30 November 2022
in Markets
Reading Time: 3 mins read
107 1
Risk-Averse Traders Must Ignore ATOM's Bullish Crossover

image source: zipmex.com

Cosmos (ATOM) started to recover after Bitcoin (BTC) hit $16.19K on November 22nd. Notably, the correction of ATOM’s price occurred on November 28 after BTC’s price fell from $16.60K on November 27. 

The market structure for ATOM was still bearish at the time of writing. As a result, risk-averse traders may wait for a breakout and retest of this Fibonacci level in the next day or two before placing any buy orders.

Can the Upside Momentum Be Sustained By the Bulls?

Source: TradingView

A developing uptrend and a subsequent bullish MACD crossover may be interpreted as a buy signal. However, the Fibonacci retracement analysis between November’s highest and lowest ATOM prices didn’t produce convincing results.

The 23.6% Fibonacci level ($10.413) proved to be a strong resistance for ATOM to overcome. Traders can consider $9.854 support to be stable if the bulls break above it and then retest it, at which point they can enter long positions. 

For a long position, the bearish order block at the 50% Fibonacci retracement level ($12.289) represents the target. A pullback occurred on the Relative Strength Index as it neared the oversold area. Consequently, it indicated that selling pressure was beginning to subside. Furthermore, this indicated that the bulls were gaining ground. 

With this, the on-balance volume (OBV) has been steadily climbing since around mid-November. Evidence of rising trading volumes suggested that buyers might be exerting more pressure in an attempt to push prices above key resistance levels. 

This inclination, however, would be nullified by an intraday close below $8.736. In this scenario, a level of $7.059 or lower could provide new support for another downward trend. 

Traders who prefer to minimize their risk exposure shouldn’t act hastily to buy after seeing a bullish MACD crossover. The 23.6% Fibonacci resistance level should be tested before any significant action is taken. However, if the uptrend persists without retesting the level, waiting for a retest could result in a missed opportunity. 

Until there is a clear breakout above the 23.6% Fibonacci level, traders should proceed with caution.

 

Disclaimer: This article is intended solely for informational purposes and should not be considered trading or investment advice. Nothing herein should be construed as financial, legal, or tax advice. Trading or investing in cryptocurrencies carries a considerable risk of financial loss. Always conduct due diligence. 

 

If you would like to read more analysis articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, and Instagram.

“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”

Don't miss out!

Subscribe To Our Newsletter

Receive top education news, lesson ideas, teaching tips and more!
Invalid email address
Give it a try. You can unsubscribe at any time.
Thanks for subscribing!
Share63Tweet39Share11
Adedamola Ojedokun

Adedamola Ojedokun

Related Posts

source: loudr.io
DeFi

The Battle for Web3 Infrastructure: Which Platforms are Dominating in Decentralized Storage, Compute, and Identity?

8 July 2025
Is Ethereum Losing the Yield Battle?
Ethereum

Is Ethereum Losing the Yield Battle?

8 July 2025
source: coindesk.com
Blockchain

Dubai Greenlights Region’s First Tokenized Money Market Fund, Pioneering Real-World Asset Digitization

8 July 2025
BRICS Digital Currencies & Their Threat to USD-Denominated Stablecoins
CBDC

BRICS Digital Currencies & Their Threat to USD-Denominated Stablecoins

5 July 2025

Featured Posts

Is Code Law? The Legal and Moral Implications of Smart Contracts

Is Code Law? The Legal and Moral Implications of Smart Contracts

byFaari Labinjo
24 June 2025
0

Multi-Party Computation (MPC) vs. Zero-Knowledge Proofs (ZKPs): Which is the Future of Blockchain Privacy?

Multi-Party Computation (MPC) vs. Zero-Knowledge Proofs (ZKPs): Which is the Future of Blockchain Privacy?

byFaari Labinjo
7 June 2025
0

Address Poisoning Attacks in Crypto: What They Are and How to Stay Safe

Address Poisoning Attacks in Crypto: What They Are and How to Stay Safe

byOlayinka Sodiq
3 June 2025
0

What Is a Bull Trap?

What Is a Bull Trap?

byOlajumoke Oyaleke
3 June 2025
0

Breaking Bitcoin’s 21M Limit: Is It Even Possible?

Breaking Bitcoin’s 21M Limit: Is It Even Possible?

byOlayinka Sodiq
3 June 2025
0

Read More

Chain of Thoughts

The Game-changing Triumvirate: Blockchain, Data Science, and Artificial Intelligence

The Game-changing Triumvirate: Blockchain, Data Science, and Artificial Intelligence

byOlu Omoyele
30 June 2025
0

...

Are Stablecoins Bank Deposits?

Are Stablecoins Bank Deposits?

byOlu Omoyele
31 May 2025
0

...

DAOs and the Coordination of Human Endeavour

DAOs and The Coordination of Human Endeavour

byOlu Omoyele
27 April 2025
0

...

Should DeFi Be Regulated?

Should DeFi Be Regulated?

byOlu Omoyele
27 March 2025
0

...

Markets Update

The Battle for Web3 Infrastructure: Which Platforms are Dominating in Decentralized Storage, Compute, and Identity?

15 hours ago

Is Ethereum Losing the Yield Battle?

15 hours ago

Dubai Greenlights Region’s First Tokenized Money Market Fund, Pioneering Real-World Asset Digitization

16 hours ago

BRICS Digital Currencies & Their Threat to USD-Denominated Stablecoins

4 days ago

The U.S. Crypto Regulatory Pivot: How the FIT21 Bill & ETF Greenlights Are Reshaping Global Policy

4 days ago

VC Funding in Web3: Where the Money Is Going Post-2024 Bear Cycle

4 days ago
Read More

Events

Rare Evo 2025
Rare Evo 2025
6 Aug 25
Las Vegas
CBDC Conference
CBDC Conference
9 Sep 25
Nassau

Spotlight

All about Ethereum
All about Algorand
All about Bitcoin
All about Gora

Press Releases

G-Knot Appoints Fintech, Crypto Veteran Wes Kaplan as CEO to Launch the First Finger Vein Biometric Wallet

bychainwire
8 July 2025
0

GUNZ Announces $GUN Token Expansion to Solana

bychainwire
7 July 2025
0

NEXST Launches Web3 VR Entertainment Platform with K-Pop Group UNIS as First Global Partner

bychainwire
7 July 2025
0

The Open Platform is first unicorn in Web3 ecosystem in Telegram at $1bn valuation

bychainwire
3 July 2025
0

Cooking.City Bringing Back Value Redistribution to Solana Fair Launches

bychainwire
3 July 2025
0

Read More

ADVERTISING

ABOUT

TEAM

CAREERS

CONTACT

TERMS & CONDITIONS

PRIVACY POLICY

© Copyright 2025 DeFi Planet

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Please enter and activate your license key for Cryptocurrency Widgets PRO plugin for unrestricted and full access of all premium features.

Add New Playlist

No Result
View All Result
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverses
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer

© Copyright 2024 DeFi Planet   |   Terms & Conditions   |   Privacy Policy

-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00