Bearish Cosmos Atom currently $0.219 lower after trading as low as $10.65

Cosmos Atom drops $0.219 early on and steadies around the $10.75 level.

Technical chart analysis shows Cosmos USD fell below the $10.87 support zone and moved 11 cents beyond it; the next level of support with significant buyer interest is estimated at $10.73. Trend-focused traders would be interested to note that despite being in the red so far in the current trading session, Cosmos Atom peaked above its 5 day Simple Moving Average around $11.03 — typically an early indicator of a new bullish trend beginning to emerge. Cosmos Atom is currently flirting with an active Fibonacci support level around $10.81. Asset volatility analysis shows that Cosmos Atom's upper Bollinger Band® is at $11.7 which indicates a further downward move may follow.

With market volatility ebbing, the current technical outlook indicates Cosmos Atom will remain range-bound for the immediate future.

In the meantime, negative performances are also seen in other markets, Ripple is down $0.014 from the beginning of the session and now trades around $0.435. Bitcoin Cash is down to $112.57, losing $3.62, after closing at $116.19 in the preceding trading session.

Positive performances can be seen by looking at other markets as FTX Token soars 9.54% to trade around $1.36.

Furthermore, United States EIA Short-Term Energy Outlook scheduled to come out tomorrow at 16:00 UTC.

Trading mostly sideways for a month. Cosmos Atom has shed 26.51% over the past three months.