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April 21, 2023
A 6 day downtrend has resulted in the asset losing $1.26. Today is looking a bit better: a mostly flat day so far for Cosmos Atom, ranging between $11.33 and $11.47; currently at $11.34.
This uncertain state for Cosmos Atom is reflected by published market data as United States Existing Home Sales (Mar) released yesterday at 14:00 UTC with a figure of 4.44 million, while the previous figure was 4.55 million. United States Philadelphia Fed Manufacturing Index (Apr) came out at -31.3, while a consensus of analysts was expecting -19.2. United States Initial Jobless Claims published yesterday at 12:30 UTC came out at 245,000, falling short of the 240,000 projections and continuing its decline from the previous 240,000 figure.
Cosmos USD is approaching key support, around 24 cents away from $11.09. 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's upper Bollinger Band® is at $12.66 and the lower is $10.53.
Despite muted price action in Cosmos Atom, chart analysis indicates it is positioned for a bullish run in the short term.
At the same time, mixed performances are seen elsewhere as FTX Token is up 9.54%. UNICORN Token USD closed at $6.43 (down 2.98%).
Pointing downwards for around a month. Cosmos Atom has shed $11.93 points and is languishing 51.12% lower over the past year, leaving its yearly highs around $23.3 in the rear-view mirror.
