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July 05, 2023Cosmos Atom trades at $9.86 after gaining $0.157 (1.62%).
Cosmos USD made an initial breakout above its 50 day Simple Moving Average at $9.74, a potential indicator of a newly emerging bullish phase. In contrast, Cosmos Atom's upper Bollinger Band® is at $10.04, this is a slight indication of a slowdown. Cosmos Atom could be slowing down soon as it approaches resistance at $9.87. Of course, crossing it might suggest further gains are ahead.
Overall, looking at the technical analysis landscape, it seems Cosmos Atom likely to continue pointing upward in the short term.
Other markets are also showing gains as FTX Token jumps 9.54% to trade around $1.36. EOS goes up 1.88% to trade around $0.758. Having closed the previous session at $0.077, TRON is up 0.6% today to currently trade at around $0.078.
Moreover, macro data could boost sentiment further as United States Crude Oil Inventories is projected to outperform its last figure with -729,000, having previously been at -9.60 million. The figure will be published tomorrow at 15:00 UTC.
Also worthy of note, as things stand, upcoming United States Initial Jobless Claims data is projected to fall short of market expectations with newly published data of 245,000, following on from the preceding figure of 239,000. New data is set to be published tomorrow at 12:30 UTC.
Elsewhere, United States ADP Nonfarm Employment Change (Jun) is scheduled for tomorrow at 12:15 UTC.
Cosmos Atom has fallen back around 41.58% over the past 9 months, from a notable high of $16.6.
