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June 26, 2023Cosmos Atom is grinding lower from $9.46 to $9.33, shedding $0.127 (1.35%) today.
Cosmos USD could begin to recover as it approaches significant support, now 1 cents away from $9.32. Dipping below could be an indication that further losses are ahead. Cosmos Atom made an initial break below its 3 day Simple Moving Average at $9.31, a possible indication of a forthcoming negative trend. Bearish sentiment was sufficient to push prices below the known Fib level of $9.36 serving as intraday support. Cosmos Atom's upper Bollinger Band® is at $9.68 which indicates a further downward move may follow.
Overall, the technical analysis landscape suggests that on the balance of probability, Cosmos Atom is expected to maintain its bearish bias.
In the meantime, negative performances are also seen in other markets, Algorand USD is down $0.005 from the beginning of the session and now trades around $0.132. EOS is trading around $0.707 (down $0.014).
Other assets are showing positive performances as FTX Token gained 9.54% and is currently trading at $1.36.
Moreover, United States Consumer Confidence is projected to outperform its last figure with 104. It previously stood at 102.3; data will be released tomorrow at 14:00 UTC.
Furthermore, United States Building Permits is scheduled for tomorrow at 12:00 UTC. United States New Home Sales (May) is expected tomorrow at 14:00 UTC.
On a negative trend for around 3 months. Cosmos Atom is now trading 43.04% below the significant high of $16.6 it set around 9 months ago.
