Cosmos Price Prediction – August 27
Over a long trading session, it has been that the Cosmos market pushes up with a series of struggles against the valuation of the US Dollar. Two years ago, the market witnessed an all-time low of $1.13 and an all-time high of $44.70 during the last year’s bullish run. The return on investment percentage is at 69.42 positive.
Cosmos (ATOM) Statistics:
ATOM price now – $10.89
ATOM market cap – $3.1billion
ATOM circulating supply – 286.4 million
ATOM total supply – No Data
Coinmarketcap ranking – #24
Resistance levels: $14, $16, $18
Support levels: $8, $7, $6
ATOM/USD – Daily Chart
The daily chart showcases the Cosmos market price pushes up with variant degrees of efforts against the purchasing power of the US Dollar recently. The trending outlook appears lowly-relatively bullish in the recent past operations. The 14-day SMA indicator is at $11.24, tightly underneath the $11.84 value line of the 50-day SMA indicator. A bearish candlestick has formed close to the lower bullish channel trend line drawn. The Stochastic Oscillators are southbound against the 80 range to 73.11 and 50.03 range values.
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Can there be more downs in the ATOM/USD market to dump to its previous low close to $5?
Dumping of the ATOM/USD market close to $5 may materialize in the long run, especially if the lower bullish channel trend line drawn remains un-fearfully breached to the downside as the crypto pushes up under a stiff trading condition. At the moment, buying activities have to suspend to see the exhaustion of a falling force given the emergence of a bearish candlestick as of the time of writing before reconsidering whether to start buying or not.
On the downside of the technical analysis, a declining pressure has been toward the psychological path that price has been able to make upswing after finding support around the lower bullish channel trend line. The two market movers need to exercise caution to place a new order at this time. The positioning of the Stochastic Oscillators suggests the crypto economy stands the risk of debasing, trading against the US currency for a while.
ATOM/BTC Price Analysis
Cosmos appears to have been somewhat having the upper hand, trending against the force of Bitcoin over a couple of sessions. The cryptocurrency pair price pushes up before resorting to a retracement motion over the trend line of the SMAs. The 14-day SMA indicator has aligned with the lower bullish channel trend line drawn slightly over the 50-day SMA indicator. The Stochastic Oscillators have crossed southbound from a point in the overbought region to 73.06 and 48.35 range values. That signifies the base crypto is under pressure, pairing with the trending force of the counter-trading crypto.
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