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March 03, 2023
Today, Cosmos Atom trades below the 12 level for first time in 6 weeks; it lost $0.544 on a day following a closing value of $12.47.
United States ISM Non-Manufacturing PMI (Feb) is next today at 15:00 UTC.
On the flip side, data for United States Initial Jobless Claims published yesterday at 13:30 UTC came out at 190,000, beating projections of 195,000 and showing improvement over the preceding figure of 192,000.
Meanwhile, United States Nonfarm Productivity (QoQ) (Q4) released yesterday at 13:30 UTC with a figure of 1.7, while the previous figure was 1.4. United States Unit Labor Costs (QoQ) (Q4) came out at 3.2, while a consensus of analysts was expecting 1.6.
Cosmos USD fell below the $12.15 support zone and moved 22 cents beyond it; the next level of support with significant buyer interest is estimated at $11.84. Cosmos Atom made an initial break below its 200 day Simple Moving Average at $12.08, a possible indication of a forthcoming negative trend. Bearish sentiment was sufficient to push prices below the known Fib level of $12.45 serving as intraday support. Cosmos Atom has just crossed the lower Bollinger Band® at $11.93, indicating further losses could be forthcoming.
Looking forward, Cosmos Atom is poised to extend its strong downtrend and continue declining.
In the meantime, negative performances are also seen in other markets, Litecoin closed at $89.1 (down 6.53%). Dogecoin falls 6.19% to trade around $0.076. Bitcoin is down to $22,400, losing $1,079.35, after closing at $23,479 in the preceding trading session.
Furthermore, United States ISM Non-Manufacturing PMI (Feb) is scheduled for today at 15:00 UTC.
Cosmos Atom has shed $21.58 points and is languishing 63.38% lower over the past year, leaving its yearly highs around $34.03 in the rear-view mirror.
