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June 24, 2023Tentatively higher from an earlier low of $9.27, Cosmos Atom is up to $9.34 today, adding $0.041, or 0.44%, to today's closing price of $9.3.
Uncertainty around Cosmos Atom is reflected by published market data as United States Services PMI came out at 54.1, while a consensus of analysts was expecting 54. United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 166,500, while the previous figure was 155,100. United States CFTC Gold speculative net positions came out at 163,000.
Cosmos USD's upper Bollinger Band® is at $9.86, suggesting that a downward move may follow. On the other hand, note that Cosmos Atom is approaching key support, around 22 cents away from $9.13. 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.
Despite the market lacking direction, technical chart analysis strongly suggests Cosmos Atom is positioned for a downward move in the near term.
At the same time, mixed performances are seen elsewhere as FTX Token added 9.54% to its value, now trading at $1.36. Having closed the previous session at $181.14, Bitcoin Cash is up 5.32% today to currently trade at around $190.78. Tezos USD is up 2.56%.
Trending downwards for around 3 months. Cosmos Atom has fallen back around 43.98% from the significant high of $16.6 set 9 months ago.
