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February 28, 2023
Without a clear-cut direction, Cosmos Atom is trading around $12.71 and ranging between $12.7 and $12.79.
United States Consumer Confidence is next.
Uncertainty around Cosmos Atom is reflected by published market data as United States Pending Home Sales beat analyst expectations of 1% and the previous reading of 1.1% with new data of 8.1%. Data for United States Core Durable Goods Orders published yesterday at 13:30 UTC came out at 0.7%, beating projections of 0.1% and showing improvement over the preceding figure of -0.4%. United States Core Durable Goods Orders published yesterday at 13:30 UTC came out at -4.5%, falling short of the -4% projections and continuing its decline from the previous 5.1% figure.
Cosmos Atom's notable support and resistance levels: Cosmos USD is approaching key support, around 16 cents away from $12.54. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls. Trend analysis indicates that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Asset volatility analysis shows that Cosmos Atom's upper Bollinger Band® is at $14.6 and the lower is $12.46.
The current technical outlook indicates Cosmos Atom will continue to ebb sideways within tight ranges for the immediate future.
Meanwhile, mixed performances are seen elsewhere as FTX Token is up 9.54%. EOS added 2.61% to its value, now trading at $1.16. UNICORN Token USD is down to $6.43, losing $0.197, after closing at $6.63 in the preceding trading session.
Data to be released later is expected to clarify investor sentiment while boosting price action volatility as as things stand, upcoming United States Crude Oil Inventories data is projected to fall short of market expectations with newly published data of 440,000, following on from the preceding figure of 7.65 million. New data is set to be published tomorrow at 15:30 UTC. United States Consumer Confidence is projected to outperform its last figure with 108.5. It previously stood at 107.1; data will be released today at 15:00 UTC. United States ISM Manufacturing PMI (Feb) is expected tomorrow at 15:00 UTC.
Registering some good gains for about 2 months now. Over the past 11 months, Cosmos Atom has retreated 62.42% from a noteworthy peak of $34.03.
