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 =$8.5294 change ~ 2.49%
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