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April 16, 2023Cosmos Atom went up to $12.89 only to drop back some of the way and is now trading at $12.64.
Technical analysis of Cosmos Atom's past price action reveals multiple support and resistance levels: Cosmos USD broke through the $12.56 resistance and climbed above it 8 cents; next resistance level is at $12.71. Trend analysis indicates that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Cosmos Atom formed a session range of $12.4 to $12.89 leaving buyers and sellers highly concentrated around an active Fibonacci resistance level of $12.63. Analysis based on the asset volatility indicates that Cosmos Atom's upper Bollinger Band® is at $12.5, this is a slight indication of a slowdown.
With market volatility ebbing, the current technical outlook indicates Cosmos Atom will remain range-bound for the immediate future.
Cosmos Atom shows positive signs, other assets are also on par: FTX Token added 9.54% to its value, now trading at $1.36.
Meanwhile, Cardano is trading around $0.446 (down $0.007). Polkadot is down to $6.72, losing $0.082, after closing at $6.8 in the preceding trading session.
Trading mostly sideways for 28 days. Approximately 11 months ago, Cosmos Atom reached a significant high of $24.67 but has struggled to hold onto its gains and declined 49.74% since then.
