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July 02, 2023
Cosmos Atom is grinding lower from $9.57 to $9.37, shedding $0.197 (2.05%) today.
Cosmos USD made an initial break below its 3 day Simple Moving Average at $9.14, a possible indication of a forthcoming negative trend. Cosmos Atom's upper Bollinger Band® is at $9.71 which indicates a further downward move may follow. Despite this, Cosmos Atom could begin to recover as it approaches significant support, now 11 cents away from $9.26. 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, Bitcoin Cash drops 6.64% to trade around $272.18. EOS is trading around $0.748 (down $0.038).
Positive performances can be seen by looking at other markets as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36.
Furthermore, United States ISM Manufacturing PMI (Jun) is scheduled for tomorrow at 14:00 UTC.
Trading mostly sideways for 3 months. Cosmos Atom has fallen back around 42.36% from the significant high of $16.6 set 9 months ago.
