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March 12, 2023
A 22 day downtrend has resulted in the asset losing $3.51. Today is looking a bit better: without a clear-cut direction, Cosmos Atom is trading around $11.09 and ranging between $11 and $11.13.
Cosmos USD is approaching key support, around 50 cents away from $10.59. 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. Cosmos Atom made an initial breakout above its 5 day Simple Moving Average at $11.19, a potential indicator of a newly emerging bullish phase. Cosmos Atom's upper Bollinger Band® is at $14 and the lower is $10.34.
Despite muted price action in Cosmos Atom, chart analysis indicates it is positioned for a bullish run in the short term.
While Cosmos Atom is pretty flat so far today, mixed performances are seen elsewhere as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. UNICORN Token USD is down to $6.43, losing $0.197, after closing at $6.63 in the preceding trading session.
On a negative trend for around a month. Cosmos Atom is now trading 65.35% below the significant high of $31.97 it set around 11 months ago.
