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May 31, 2023
Cosmos Atom is down to $10.61, after ending today at $10.84. Overall, a 2.14% loss or $0.232 today.
United States JOLTs Job Openings (Apr) is next today at 14:00 UTC.
On the flip side, highly important Consumer Confidence data from United States beat analyst expectations of 99 with a reading of 102.3.
Amid the market gloom, United States S&P/CS HPI Composite – 20 n.s.a. (YoY) (Mar) came out at -1.1, while a consensus of analysts was expecting -1.6.
Cosmos USD's upper Bollinger Band® is at $11.05 which indicates a further downward move may follow.
Overall, looking at the technical analysis landscape, it seems Cosmos Atom is likely to start pointing downward in the short term.
In the meantime, negative performances are also seen in other markets, Ripple is trading around $0.505 (down $0.017). Bitcoin closed at $27,100 (down 2.24%).
Positive performances can be seen by looking at other markets as FTX Token added 9.54% to its value, now trading at $1.36.
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as United States Initial Jobless Claims projected to come out at 235,000 — worse than previous data of 229,000; data will be released tomorrow at 12:30 UTC.
In addition, United States Crude Oil Inventories is projected to outperform its last figure with -1.10 million. It previously stood at -12.46 million; data will be released tomorrow at 15:00 UTC.
Furthermore, United States ADP Nonfarm Employment Change (May) scheduled to come out tomorrow at 12:15 UTC.
Trading mostly sideways for 2 months. Cosmos Atom has fallen back around 34.7% over the past 8 months, from a notable high of $16.6.
