Cosmos (ATOM) has experienced a significant rebound, surpassing important technical levels despite market volatility. Analysis suggests that the recent surge above the 200-day EMA could indicate a transformation in long-term trends. ATOM has shown a 65% increase over two weeks, reaching $6.18. This bullish momentum is supported by the formation of a rising wedge pattern. Traders should be prepared for both a breakout or a breakdown from the pattern. Derivatives data reflects mixed sentiment, with a decrease in trading volume and open interest. While there is hesitance in the bullish conviction, platforms like Binance and OKX display optimistic long/short ratios, indicating an expectation of continued upward movement. Monitoring key resistance levels and Bitcoin's influence will be important for predicting ATOM's trajectory.



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