The Cosmos price showed signs of strength after breaking out of a downward channel and establishing a key support level. The breakout led to a spike and an upward-moving channel, a classic setup for trend continuation. Momentum built steadily, supported by a Golden Cross in MACD and a rising RSI, which temporarily entered overbought territory. However, later movements showed hesitation, with follow-up breakouts losing force. The market formed a range instead of continuing upward momentum. With Cosmos hovering between $4.30 and $4.36, traders are watching closely for a confirmed move that can define the next direction. Let’s see what these patterns look like on the chart.
Cosmos Price Analysis of April 23, 2025
A downward-moving channel appeared in the price of Cosmos, which broke out to the upside at 07:20 UTC and formed a spike to the upside. Before that, it had already marked the day’s low at $3.98. Cosmos created a support area at $3.98. The breakout from the downward-moving channel formed a spike and a channel pattern, a classical trend pattern. This upward-moving channel broke out to the upside at 13:40 UTC, supported by a Golden Cross of MACD. This Cosmos breakout also formed a spike and an upward-moving channel, suggesting a strong trend.
In the meantime, RSI moved above 70, indicating overbought market conditions. At 15:35 UTC, a Death Cross appeared in the MACD, helping create a channel. This second upward-moving channel again broke out to the upside at 21:45 UTC, supported by a Golden Cross of MACD, but this time, the Atom price could not form a spike and channel pattern. Instead, a range appeared after the breakout and held briefly. The day of April 22 was a trend day, which means most breakouts succeed if the momentum continues; then, the trend day might also continue.
Atom Price Prediction for April 23, 2025
The range broke out to the upside in the early hours of 23rd April at 01:05 UTC, but the Cosmos breakout soon failed and fell back inside the range. The Cosmos price had already marked the day’s high at $4.36. If Cosmos breaks its high, then some upward momentum could be seen in the price of Cosmos. If the bullish momentum weakens, Cosmos may drop again to its range at $4.30. Cosmos needs a strong upside breakout to be followed by a strong trend. If that doesn’t happen, then Cosmos may develop a range.
Momentum Builds, but Confirmation Needed
Cosmos is showing potential but remains indecisive. Breakouts have occurred, yet none have led to lasting momentum. A push above the recent high near $4.36 could open the door for further gains, especially if backed by substantial volume and RSI strength. However, if momentum fades again, the Cosmos price may slip back into the $4.30 range or lower. Cosmos needs a clear, sustained breakout to confirm trend direction. Until then, the market appears cautious, with every upside attempt facing hesitation. Traders should wait for confirmation before positioning for a sustained move.
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