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May 15, 2023
Cosmos Atom is down to $10.77, after ending today at $10.92. Overall, a 1.35% loss or $0.148 today.
Cosmos USD made an initial break below its 10 day Simple Moving Average at $10.91, a possible indication of a forthcoming negative trend. Cosmos Atom's upper Bollinger Band® is at $11.73 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 6 cents away from $10.83. Dipping below could be an indication that further losses are ahead.
Overall, looking at the technical analysis landscape, it seems Cosmos Atom is likely to continue pointing down in the short term.
In the meantime, negative performances are also seen in other markets, UNICORN Token USD closed at $6.43 (down 2.98%). Dogecoin draws back 1.02% to trade around $0.071.
Positive performances can be seen by looking at other markets as FTX Token is up 9.54%.
Some optimism can drawn from the fact that United States Retail Sales is projected to outperform its last figure with 0.7%. It previously stood at -0.6%; data will be released tomorrow at 12:30 UTC. United States Core Retail Sales is projected to outperform its last figure with 0.4%. It previously stood at -0.4%; data will be released tomorrow at 12:30 UTC.
Trading mostly sideways for 2 months. Cosmos Atom is now trading 17.78% below its 3-month high of $16.6.
