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April 26, 2023
Currently trading at $11.17, Cosmos Atom remains range-bound between $11 and $11.24.
- United States Core Durable Goods Orders data will be released today at 12:30 UTC, with an expected decline to -0.2%.
- In contrast to today's gains, Cosmos Atom has been on an 11 day bearish trend during which it lost $1.61 of its value.
Earlier data releases related to Cosmos Atom – United States New Home Sales (Mar) came out at 683,000, while a consensus of analysts was expecting 630,000. United States Consumer Confidence published yesterday at 14:00 UTC came out at 101.3, falling short of the 104 projections and continuing its decline from the previous 104 figure.
Technical analysis of Cosmos Atom before macro data is released:
Cosmos USD's lower Bollinger Band® is at $10.23, indicating that the market is oversold and fertile for new buyers. On the other hand, note that Cosmos Atom could be slowing down soon; it is getting close to the resistance line and is now at $11.28, only 11 cents away. Crossing the resistance line could, however, suggest that further gains are ahead.
Following today's unexpected gains, extensive multifactorial technical analysis forecasts Cosmos Atom to buck against its prevailing downtrend and begin to turn higher in the short term. With all probabilities considered, the Cosmos Atom is expected to pick up significant bullish sentiment in the coming days.
Coming up for Cosmos Atom — United States Crude Oil Inventories is projected to outperform its last figure with -1.49 million. It previously stood at -4.58 million; data will be released today at 14:30 UTC. Tomorrow at 14:00 UTC data for United States Pending Home Sales will be released, with an expected decline to 0.5% from the preceding figure of 0.8%.
As the markets get ready for more data to be released — FTX Token jumps 9.54% to trade around $1.36. Bitcoin is up 2.37%. Ethereum is up 2.62% to $1,913.62.
Pointing downwards for around a month. Cosmos Atom has shed 19.54% over the past three months.
