Cosmos price is contained inside an ascending parallel channel on the 12-hour chart. The digital asset must climb above a key resistance level to see a massive breakout. At the same time, bears could seek a comeback and push ATOM below a critical support level. Cosmos has been trading sideways for the past two weeks. The digital asset is trading between two key levels that will determine the price action of ATOM for the next month. Cosmos price on the verge of a massive breakout ATOM has established an ascending parallel channel on the 12-hour chart. The digital asset faces a key resistance level at $20.4 in the form of the 50-SMA. Reclaiming this MA should quickly push Cosmos price towards the upper trendline at $22.5 ATOM/USD 12-hour chart A further breakout above $22.5 will drive Cosmos price to $24.3 and potentially up to $26.25 in the long-term. ATOM/USD 12-hour chart However, a rejection from the 50-SMA will push ATOM towards the lower boundary of the channel at $19. A breakdown below this point will drive Cosmos price towards $15.7 at the 100-SMA. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next AUD/USD stays calm around 0.7700 ahead of US inflation data FX Street 1 year Cosmos price is contained inside an ascending parallel channel on the 12-hour chart. The digital asset must climb above a key resistance level to see a massive breakout. At the same time, bears could seek a comeback and push ATOM below a critical support level. Cosmos has been trading sideways for the past two weeks. The digital asset is trading between two key levels that will determine the price action of ATOM for the next month. Cosmos price on the verge of a massive breakout ATOM has established an ascending parallel channel on the 12-hour chart. The digital asset… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.