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- Cosmos price prediction suggests the downtrend momentum of ATOM token over the daily price chart.
- ATOM crypto has slipped below 20, 50, 100 and 200-days Daily Moving Average.
- The pair of ATOM/BTC is at 0.0005722 BTC with an intraday drop of 3.63%.
The Cosmos price prediction points to the token being confined inside the consolidation phase pattern over the daily price chart. The ATOM cryptocurrency needs to escape its current circumstance in order to rise over the daily price chart. Investors in ATOM must hold off on making a purchase until the token leaves its condition of consolidation and breaks free of its falling pattern. Over the course of the daily price chart, Cosmos pricing went through an unusual roller-coaster journey, initially failing to escape the consolidation phase and being stuck in the sideways stage. The token was able to escape the consolidation phase after recovering, but it was quickly drawn back into the falling pattern.
The current estimated price of Cosmos is $9.65, and over the last day, it has lost 4.48% of its market value. The volume of trades during the intraday trading session has increased by 24%. This suggests that those buying ATOM cryptocurrency are trying to collect the token at a rapid rate.
The price of Cosmos has been falling throughout the daily price chart inside the consolidation phase. The daily chart for the ATOM cryptocurrency depicts a fantastic roller coaster journey. ATOM needs to boost the volume change, which is currently below average and needs to do so in order to surge back towards the upper price range of the consolidation phase. Meanwhile, ATOM price has been constant inside the price range of $9.50 and $15.00.
What do Technical Indicators suggest about Cosmos Price?
For the coin to commence its recovery phase, the price of Cosmos needs to break out of the falling shape, and more buyers need to enter the market during intraday trading. Technical indicators support the token’s drop over the course of the daily price chart.
The Relative Strength Index shows the downward momentum of the ATOM cryptocurrency. At 40, the RSI is slipping below the neutral line. In MACD, the ATOM’s downward momentum can be seen. The MACD line is advancing in the direction of the signal line for a negative crossing following a positive crossover. Investors in ATOM must keep an eye out for any noticeable momentum differences in the price movement of the token.
Conclusion
The Cosmos price prediction points to the token being confined inside the consolidation phase pattern over the daily price chart. The ATOM cryptocurrency needs to escape its current circumstance in order to rise over the daily price chart. Investors in ATOM must hold off on making a purchase until the token leaves its condition of consolidation and breaks free of its falling pattern. ATOM needs to boost the volume change, which is currently below average and needs to do so in order to surge back towards the upper price range of the consolidation phase. Technical indicators support the token’s drop over the course of the daily price chart. Investors in ATOM must keep an eye out for any noticeable momentum differences in the price movement of the token.
Technical Levels
Support Levels: $8.65 and $5.55
Resistance Levels: $10.70 and $12.50
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
