Cosmos cryptocurrency can be expected to rise to the next resistance level 2.200 (top of the previous minor correction ii from the middle of May).
- Cosmos reversed from support zone
- Likely to rise to resistance level 2.200
Cosmos cryptocurrency recently reversed up from the support zone lying at the intersection of the round support level 2.000 (former strong resistance from March and April, as can be seen from the dilly Cosmos chart below), 20-day moving average and the 38.2% Fibonacci correction of the upward impulse from the end of March. The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Bullish Engulfing, similar to the one it created near the same support zone in the middle of May – as you can see below.
Given the strength of the support level 2.000, Cosmos cryptocurrency can be expected to rise to the next resistance level 2.200 (top of the previous minor correction ii from the middle of May).
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