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March 15, 2023
While Cosmos Atom is on a 7 day bullish trend, Today's session might suggest a slow down — Cosmos Atom trades at $13.11, after ending today at $13.07.
United States Producer Price Index is next.
Trend-following investors would be interested to note that investors are seeking long positions as Cosmos USD price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Asset volatility analysis shows that Cosmos Atom's upper Bollinger Band® is at $13.67, suggesting that a downward move may follow.
Notwithstanding Cosmos Atom's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
Other markets show mixed performance as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Having closed the previous session at $1.2, Tezos USD is up 2.45% today to currently trade at around $1.23.
Furthermore, the market is looking at as things stand, upcoming United States Retail Sales data is projected to fall short of market expectations with newly published data of -0.3%, following on from the preceding figure of 3%. New data is set to be published today at 12:30 UTC. United States Core Retail Sales projected to decline to -0.1% while previous data was 2.3%; data will be released today at 12:30 UTC. Projections for United States Producer Price Index are set for a continuation of decline with 0.3% while previous data was 0.7%; data will be released today at 12:30 UTC.
Trending downwards for around a month. Cosmos Atom is now trading 59.11% below the significant high of $31.97 it set around 11 months ago.
