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June 16, 2023
Small gain for Cosmos Atom at $8.73 after ranging between $8.57 and $8.75 today.
Uptick comes while some more positive signs for Cosmos Atom are out as highly important Retail Sales data from United States beat analyst expectations of -0.1% with a reading of 0.3%.
Nevertheless, new United States Initial Jobless Claims data fell short of the 250,000 projected by analysts with a reading of 262,000 while failing to improve upon the previous reading from last month (262,000).
Meanwhile, United States Philadelphia Fed Manufacturing Index (Jun) came out at -13.7, while a consensus of analysts was expecting -13.5.
Despite posting gains so far today, Cosmos USD slid below its 5 day Simple Moving Average at $8.62 in earlier trade — an early indicator that a negative trend could be emerging. Cosmos Atom is 9 cents away from testing key resistance at $8.73. Peaking above this level could inspire market bulls and open the path to further gains.
Despite basking in an uptrend and bullish intraday sentiment, chart analysis indicates Cosmos Atom is set for a reversal in the coming days.
Other markets are also showing gains as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Binance Coin rises 1.55% to trade around $239.37.
At the same time, after ending today's session at $0.071, TRON lost $0.001 and is trading around $0.07.
On a negative trend for around 2 months. Cosmos Atom has shed 32.69% over the past three months.
