COSMOS Price Prediction Today: Daily (ATOM) Value Forecast – July 29


  • The short and medium-term outlook is in a bearish trend.
  • Responsible selling after retest may be considered.

ATOM/USD Medium-term Trend: Bearish

Supply zone: $10.00, $12.00, $14.00
Demand zone: $3.00, $2.00, $1.00

ATOM continues a bearish trend in the medium-term outlook. The rally was cut short during the weekend at $4.00 in the supply area. Rejection and subsequent drop in price by the bears was due to the resistance by the trendline.

A bounce is most expected at this point as price fell initially to $3.44 and later to $3.48 in the demand area before the close of yesterday session as exhaustion sets in denoted by the wick in the candle indicating brief bullish activities as the candle market closed at $3.63.

The bear sustained the momentum as today session opened at $3.63 with downward price movement to $3.55 in the demand area. The exhaustion at the trendline suggests the bears' gradual return with a drop to $3.89. The pressure on the coin by the bears is strong hence the break of the support the 10-EMA.

The signal of the stochastic oscillator is pointing down at 20% and price is below the two EMAs, $3.40 in the demand area may be rested in the medium-term

ATOM/USD Short-term Trend: Bearish

ATOM continues in a bearish trend in the short-term outlook. the double top formation after the rally to $4.00 in the supply area on 27th July return the bears. Price drops to $3.54with the break at $3.66 a key demand area.

Today’s session opened bullish at $3.53 with a second retest at the broken key demand are now a support area. This confirmed the downward price continuation in the short-term.
$3.45 in the demand area is the bears' next target as the momentum increases and more candles opened and closed below the two EMAs.

Live Cosmos (ATOM) Price:

1 ATOM/USD =$29.1313 change ~ 4.31%

Coin Market Cap

$7.24 Billion

24 Hour Volume

$423.36 Million

24 Hour VWAP

$28

24 Hour Change

$1.26

 

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

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