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May 21, 2023
Cosmos Atom slides down from $10.6 to $10.45 today, losing $0.155 (1.46%).
Cosmos USD's upper Bollinger Band® is at $11.3 which indicates a further downward move may follow. On the other hand, note that Cosmos Atom could begin to recover as it approaches significant support, now 9 cents away from $10.54. Dipping below could be an indication that further losses are ahead. Despite being in the red so far in the current trading session, Cosmos Atom peaked above its 3 day Simple Moving Average around $10.62 — typically an early indicator of a new bullish trend beginning to emerge.
Overall, looking at the technical analysis landscape, it seems that although indicators are mixed and some are pointing in different directions further drawbacks may be next for Cosmos Atom.
In the meantime, negative performances are also seen in other markets, Ripple closed at $0.457 (down 2.61%).
Positive performances can be seen by looking at other markets as FTX Token is up 9.54%. TRON is up 3.64%.
Trading mostly sideways for 2 months. Cosmos Atom is now trading 23.6% below its 3-month high of $16.6.
