Technical Analysis: ATOM Hits 1-Week High — AXS, LEO, THETA Dip Lower

Despite Thursday’s selloff successful cryptocurrencies, cosmos managed to deed its highest level successful the past week. The rally came arsenic 1 of yesterday’s large gainers, THETA, slipped successful today’s session.

Biggest gainers

Cosmos (ATOM) moved higher successful today’s session, contempt the planetary cryptocurrency marketplace headdress falling by implicit 3% arsenic of writing.

ATOM/USD roseate to a highest of $30.79 earlier today, pursuing its ascent from yesterday’s debased of $27.97.

This caller surge successful the terms of ATOM, comes aft a Valentine’s time bounce of its enactment level astatine $25.90.

Since being deed by cupid’s arrow, ATOM/USD has had 4 consecutive sessions of higher highs, starring to Thursday’s run.

ATOM/USD – Daily Chart

Today’s determination besides saw ATOM interruption retired of its absorption level astatine $29.20, nevertheless arsenic the time progressed, profit-takers liquidated positions, starring to the 1D candlestick fading.

This mendacious breakout has besides seen the 14-day RSI held astatine absorption of 47, a level which it has been incapable to ascent implicit successful the past 10-days.

Should terms spot beryllium lessening, we whitethorn soon spot immoderate consolidation successful the terms of cosmos.

Biggest losers

Although SAND, AXS, and LEO were each heavy into the reddish connected Thursday, it was THETA that fell by the astir successful the apical 100.

Coming disconnected the backmost of a $3.98 precocious yesterday, THETA fell to a debased of $3.60 during today’s session, nearing a 10% nonaccomplishment successful the process.

Thursday’s selloff began aft prices approached the absorption of $4.00, and present look acceptable to autumn to enactment astatine $3.48.

THETA/USD – Daily Chart

Price spot besides faded, with the RSI falling to its ain enactment of 50.20, aft being held up astatine absorption astatine 58.65.

Many present hold to spot if THETA volition proceed with this consolidation, and commercialized sideways betwixt enactment and resistance.

However, arsenic agelong arsenic we proceed to linger astatine these levels, bulls volition apt proceed to circle.

Will THETA rebound successful tomorrow’s session? Let america cognize your thoughts successful the comments.

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