COSMOS Price Prediction Today: Daily (ATM) Value Forecast – June 5
- The medium-term outlook is in a range-bound market while the short-term is in a downtrend.
- Traders should exercise patience is required at this period.
ATM/USD Medium-term Trend: Ranging
Supply zone: $10.00, $12.00, $14.00
Demand zone: $4.00, $3.00, $2.00
The cryptocurrency is in a range-bound market in its medium-term outlook. The wicks formed at $7.13 in the supply area were an indication of bullish exhaustion and rejection of upward price movement.
With a large bearish candle, the bears took control of the market with a drop in the cryptocurrency price to $5.80 as the market closes yesterday.
The bullish 4-hour opening candle $5.93 manage to push the coin up to $6.27 in the supply area before the bears returned as the market enters consolidation.
ATMUSD is in consolidation and trading between $7.00 in the upper supply area and at $5.25 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence patience is required to allow this to happen before a position is taken.
ATM/USD Short-term Trend: Bearish
ATM is in the downtrend in the short-term outlook. After attaining the predicted target at $7.00 in the supply area on 3rd June, the bulls lost momentum. $6.10 in the demand area was the initial price the bears pushed the cryptocurrency price to.
Increased momentum further drop price to $5.80 before the end of the session.
The bears' pressure was noticed around the trendline after the bullish exhaustion at $6.26 during today session.
ATMUSD is down at $7.00 in the demand area before the current flag formation.
$5.00 in the demand area is the bears' target in the short-term as the bounce from the trend line may take price further down.
Live Cosmos (ATOM) Price:
1 ATOM/USD =$19.7709 change ~ 13.46%
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