Cosmos

<ul><li>Cosmos (ATOM) encounters a significant .618 Fibonacci resistance after a massive multi-year breakout.</li><li>Traders observe a bearish divergence, implying a short bias, but the market&#39;s positive momentum adds complexity.</li><li>Keep an eye out for a potential breakout above $8.701 or a trendline support breakdown while considering Bitcoin&#39;s influence.</li></ul>In a recent development, Cosmos (ATOM) has experienced a significant multi-year breakout. However, this surge has hit a roadblock as the price was met with rejection at the crucial 0.618 Fibonacci resistance level. The crypto market is now at a crossroads, with traders and investors closely monitoring the situation. Crypto analyst CryptoBusy has identified a bearish divergence in the price action of ATOM, suggesting a potential downturn in the near future. However, there is a twist in the tale as the overall market still maintains positive momentum, leaving traders in a dilemma.As per a recent tweet by crypto analyst CryptoBusy, ATOM&#39;s multi-year breakout faces resistance, but with a market in flux.The expert&#39;s sentiment, in this case, is leaning toward a short bias, indicating a bearish outlook for ATOM. This position is driven by the bearish divergence and the rejection at the Fibonacci resistance. But there&#39;s a catch – the market&#39;s bullish momentum casts a shadow of doubt on the situation.Read full article at <a href="https://cryptotale.org/cosmos-atom-faces-crucial-crossroads-after-price-rejection-at-fib-resistance/" rel="noopener noreferrer nofollow">CryptoTale.</a>

Cosmos (ATOM) Faces Crucial Crossroads After Price Rejection at Fib Resistance

CryptoTale

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