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May 17, 2023Without a clear-cut direction, Cosmos Atom is trading around $10.82 and ranging between $10.74 and $11.07.
- New United States Crude Oil Inventories improved upon the previous 2.95 million figure while also exceeding analyst expectations with a reading of 5 million.
- Cosmos Atom has been pretty quiet for the last 9 days, trading mostly flat and moving by only $0.056 on average.
Highly important Crude Oil Inventories data from United States beat analyst expectations of -920,000 with a reading of 5 million. United States Building Permits (Apr) came out at 1.42 million, while a consensus of analysts was expecting 1.44 million.
Cosmos USD is approaching key support, around 11 cents away from $10.71. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls. Cosmos Atom made an initial breakout above its 10 day Simple Moving Average at $10.89, a potential indicator of a newly emerging bullish phase. On the other hand, note that Cosmos Atom is currently flirting with an active Fibonacci support level around $10.81. Cosmos Atom's upper Bollinger Band® is at $11.55, suggesting that a downward move may follow.
Overall, looking at the technical analysis landscape, it seems Cosmos Atom might be pointing upward in the short term.
United States Philadelphia Fed Manufacturing Index (May) scheduled to come out tomorrow at 12:30 UTC. United States Initial Jobless Claims is projected to outperform its last figure with 254,000. It previously stood at 264,000; data will be released tomorrow at 12:30 UTC.
FTX Token surges 9.54% to trade around $1.36. UNICORN Token USD closed at $6.43 (down 2.98%). After ending today's session at $1,823.19, Ethereum lost $24 and is trading around $1,799.2.
Trading mostly sideways for 2 months. Cosmos Atom is now trading 21.33% below its 3-month high of $16.6.
