COSMOS Price Prediction Today: Daily (ATOM) Value Forecast – July 1
- The short and medium-term outlook is in a bearish trend.
- Traders may look to sell at pullback areas.
ATOM/USD Medium-term Trend: Bearish
Supply zone: $10.00, $12.00, $14.00
Demand zone: $4.00, $3.00, $2.00
ATOM continues in a downward trend the medium-term outlook. The correction to the bears' impulsive movement that led to a drop in price to $4.87 began on 27th June. With increased momentum, the bulls pushed the coin up to $6.15 in the supply area on 29th June before momentum loss.
The break of the 10-EMA with the trendline during yesterday session, confirmed bearish continuation as ATOMUSD fell to $5.40before the market ended yesterday.
Despite a bullish engulfing candle as the market opens today at $5.38, the pressure was weakened as the bears took over and pushed the coin further down to $5.14.
The signal of the stochastic oscillator points down at 11% in the oversold region while price is below the two EMAs. These suggest downward price movement as the journey down south continues. $4.50 in the demand area remains the bears' target in the medium-term.
ATOM/USD Short-term Trend: Bearish
ATOM is in the bearish trend in the short-term outlook. The bears' momentum was briefly lost at $5.37 in the demand area after today’s opening session. This allows for a minor correction as the bulls pushed price up to $5.66 around the trendline.
A bounce to the downside as the bears resume the downward journey. The coin dropped initially to $5.14 in the demand area.
With Price below the two EMAs, an indication of strong pressure on price by the bears while the stochastic oscillator signal points up, suggesting minor upward price movement as the coin journey down to $4.80 in the demand area.
Live Cosmos (ATOM) Price:
1 ATOM/USD =$9.3726 change ~ -8.99%
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