Cosmos (ATOM) price surged 30% in the last 5 days with increasing trading volume, indicating strong market confidence.
ATOM is trading in a falling wedge pattern and could potentially break out, which may send the price between $7-8 in the midterm.
The Cosmos price needs to break above the $5.839 and $4.798 levels to initiate a bullish rally.
The RSI indicator is heading in an upward direction and the MACD is showing a bullish trend, but the technical summary suggests neutrality with a mix of sell, neutral, and buy signals.