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- 1 Cosmos price prediction suggests the struggle of ATOM crypto at the lowest level.
- 2 ATOM crypto is trading below 20, 50, 100 and 200-days daily moving averages.
- 3 Cosmos cryptocurrency has declined around 27.42% year to date.
The Cosmos price prediction highlights the ongoing challenges facing the ATOM cryptocurrency as it strives to rebound and achieve substantial gains in the market. ATOM has been making persistent efforts to recover, but it has struggled to establish a robust upward trajectory on the daily time frame chart. At this juncture, Cosmos cryptocurrency finds itself in a crucial position, desperately needing to attract more buyers to initiate a meaningful resurgence.
However, the current scenario depicts ATOM crypto price as being in a state of consolidation, occurring at its lowest levels. This consolidation phase reflects the difficulty it faces in generating the necessary momentum for a strong uptrend. As the cryptocurrency landscape evolves, it remains to be seen whether Cosmos can overcome these obstacles and regain its footing in the market. Investors and analysts need to closely watch for signs of renewed strength and potential breakthroughs in the coming days.
Cosmos price was at $6.769 and has gained 0.68% of its market capitalization during the day’s trading session. Trading volume has decreased around 2.60% intraday. This demonstrates that sellers are trying to accumulate to pull ATOM crypto downwards. Volume to market cap ratio is 2.66%.
Cosmos Price Prediction: Technical Analysis
Cosmos price forecast emphasizes the persistent difficulties that cryptocurrency is encountering as it attempts to recover and make significant gains in the market. However, volume change is below average and needs to grow during the day’s trading session. Meanwhile, ATOM crypto is trading below 20, 50, 100 and 200-days daily moving averages. ATOM crypto needs to attract buyers to initiate its recovery phase.
Cosmos cryptocurrency has been struggling to gain from the start of the year. Cosmos price declined around 6.70% in a week and 20.21% in a month. ATOM crypto price slumped around 33.15% in the last three months and 38.04% in the last six months. Moreover, ATOM price slipped around 27.42% year to date.
Technical indicators suggest the upside trend of Cosmos cryptocurrency. Relative strength index showcases the upward velocity of ATOM price. Moving average convergence divergence also indicates the upside trend of ATOM crypto.
RSI was at 31 and is heading towards neutrality. The MACD line is moving towards the signal line for a positive crossover. Investors in Cosmos cryptocurrency need to wait for any directional change over the daily time frame chart.
Summary
The Cosmos price prediction highlights the ongoing challenges facing the ATOM cryptocurrency as it strives to rebound and achieve substantial gains in the market. However, the current scenario depicts ATOM crypto price as being in a state of consolidation, occurring at its lowest levels. Volume change can be seen below average and needs to grow during the day’s trading session. Technical indicators highlight the upside trend of Cosmos cryptocurrency.
Technical Levels
Support Levels: $6.632 and $6.55
Resistance Levels: $6.95 and $7.45
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
