THELOGICALINDIAN - ATOM had displayed optimistic amount activity afresh afterwards the bread rallied abutting to 14 a little over 48 hours ago The bread had managed to disengage the accident of 21 that it incurred in the accomplished anniversary with its contempo rally
Bearish sentiments are still present beyond the accomplished industry and altcoins accept additionally absolved forth the aforementioned amount sentiment. Ever back ATOM revisited its all time aerial in the ages of January this year, the bread has struggled to absolution itself from the butt of the bears.
At the time of writing, Cosmos (ATOM) was the 28th better crypto by bazaar capitalisation as apparent on CoinGecko.
Bitcoin afresh slid beneath the $30,000 mark while Ethereum struggled to barter aloft the $2024 amount level. The all-around cryptocurrency bazaar cap today was at $1.32 Trillion afterwards a abatement of 4.6% in the aftermost 24 hours.
ATOM Price Analysis: One Day Chart
Cosmos (ATOM) was trading for $10.57 at the time of writing. Gradual advance from the bears accept acquired the agenda asset to barter beneath its attrition lines. At columnist time, the bread was trading abutting to its actual abutment akin because the bazaar accustomed a abatement in affairs strength.
Over the aftermost 24 hours, the altcoin registered a aciculate abatement by 9% banishment the bread barter abreast the bounded support.
Immediate attrition for ATOM stood at $13.73 and to barter aloft the aforementioned ATOM would charge abutment of the buyers. Volume of the bread traded depicted bearishness which indicates affairs drive ascent in the market.
Technical Analysis
Cosmos (ATOM) invalidated its 8-month continued attrition band and that acquired sellers to lose aplomb on the asset. The bread was trading beneath the 20-SMA band which meant that sellers were in ascendancy of the amount momentum.
If the bread continues to abide beneath the 20-SMA band again a bullish awakening charcoal boxy for the altcoin. If buyers acquisition a way aback into the bazaar again the bread can attack to barter abreast the $13 amount mark.
A bounce from the above amount akin will advance the bread below the $9.42 abutment level. The bread traded abreast the $9.40 akin aftermost year in the ages of July.
The Relative Strength Index displayed an uptick because the indicator was apparent aloft the oversold region. Despite recovery, ATOM continues to abide beneath abundant affairs pressure.
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Cosmos (ATOM) had staged a abrupt accretion and afterward that indicators reflected some bullishness. It is too aboriginal to say if the altcoin will abide affective in the aforementioned direction. Awesome Oscillator depicts the amount drive in the market.
The indicator displayed blooming histograms beneath the zero-line, this account signifies a advertise signal. If sellers act on the advertise signal, amount could dip added causing the bears to strengthen.
Chaikin Money Flow was beneath the half-line, although the indicator acclaimed an access in basic inflows over outflows. Despite access in basic inflows, ATOM’s basic outflows announce its inflows.
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