- ATOM’s value loses its demand zone of $13 as the value trades to a low area of $10 and will expertise extra sell-off.
- ATOM’s value continues to look weak after a bearish downtrend with the market’s present state, as issues look unsure for many merchants and buyers.
- ATOM’s value trades beneath the every day 50 Exponential Moving Average (EMA) as bulls eye ranges to purchase in.
In the final two days, the crypto market has seen some drastic shift in sentiment, with Cosmos (ATOM) and the value of different altcoins battling for survival after the information that Binance wouldn’t be taking on FTX after conducting due diligence. Previous weeks noticed the value of Cosmos (ATOM) carry out properly, rallying from a low of $13 to a excessive of $15. Most altcoins pattern greater as many produced good points of over 200%, with many hoping for extra restoration bounce. Still, these expectations have been lower quick by the uncertainty surrounding the crypto market, resulting in a lot concern about the place the market is headed. (Data from Binance)
Cosmos (ATOM) Price Analysis On The Weekly Chart
The previous few days have been full of a lot turbulence within the crypto house as many altcoins have struggled to indicate energy after shedding their key help holding off value decline.
The present uncertainty surrounding the market has resulted in reluctance on the a part of merchants and buyers to make altcoin purchases, as there is no such thing as a assurance if they’d be heading up any time quickly.
The value of ATOM, regardless of exhibiting some nice energy in latest weeks, ATOM has been left hanging within the air as the present state of the market has led to the value dropping to its weekly low of $10 after an extended whereas.
The value of ATOM noticed its value decline to a weekly low of $9.5 earlier than bouncing off this area, exhibiting some nice energy to a area of $10 as the value goals to interrupt greater.
Weekly resistance for the value of ATOM – $11.5.
Weekly help for the value of ATOM – $6.5.
Price Analysis Of ATOM On The Daily (1D) Chart
The value of ATOM stays weak within the every day timeframe as the value trades beneath the important thing help area of $11.5, with bulls eyeing decrease areas to purchase in on the value of ATOM.
The area of $8.5-$5.5 has been a key demand zone for the value of ATOM on each weekly and every day timeframes, contemplating how sturdy this undertaking has been with good neighborhood backing.
Daily resistance for the ATOM value – $12.
Daily help for the ATOM value – $8-$5.
Featured Image From zipmex, Charts From Tradingview