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June 27, 2023Cosmos Atom trades at $9.28 after gaining $0.086 (0.94%).
- New United States Consumer Confidence improved upon the previous 102.5 figure while also exceeding analyst expectations with a reading of 109.7.
- Today's gains follow 18 days of flat trade
United States New Home Sales (May) released today at 14:00 UTC with a figure of 763,000, while the previous figure was 680,000. Data for United States Consumer Confidence published today at 14:00 UTC came out at 109.7, beating projections of 104 and showing improvement over the preceding figure of 102.5.
Trend and momentum analysis indicates that Cosmos USD made an initial breakout above its 5 day Simple Moving Average at $9.32, a potential indicator of a newly emerging bullish phase. Cosmos Atom is currently trading around the $9.36 Fibonacci resistance level. According to asset volatility analysis, Cosmos Atom's upper Bollinger Band® is at $9.58, this is a slight indication of a slowdown. Chart analysis indicates Cosmos Atom could be slowing down soon as it approaches resistance at $9.41. Of course, crossing it might suggest further gains are ahead.
Overall, the technical outlook suggests Cosmos Atom is likely to remain muted for the immediate future, with no clear-cut direction.
United States Crude Oil Inventories is projected to outperform its last figure with 1.42 million, having previously been at -3.83 million. The figure will be published tomorrow at 14:30 UTC. United States Fed Chair Powell speech set for tomorrow at 13:30 UTC.
FTX Token is up 9.54% to $1.36. Bitcoin Cash rises 3.53% to trade around $230.76. TRON added 1.17% to its value, now trading at $0.075.
On a negative trend for around 3 months. Approximately 9 months ago, Cosmos Atom reached a significant high of $16.6 but has struggled to hold onto its gains and declined 44.65% since then.
