COSMOS Price Prediction Today: Daily (ATOM) Value Forecast – July 3
- The short and medium-term outlook is in a bearish trend.
- Selling at key areas with bearish reversal candlesticks as confirmation may be considered.
ATOM/USD Medium-term Trend: Bearish
Supply zone: $10.00, $12.00, $14.00
Demand zone: $4.00, $3.00, $2.00
ATOM remains in a bearish trend the medium-term outlook. The formation of the lower low each day indicates continuous bears control of the market. $5.11 and $5.08 are the low of 1st and 2nd of July trading session with a new low targeted before the end of today's session.
Despite a bullish opening session at $5.39 with the coin up at $5.53 in the supply area, the closed of the candle as a bearish inverted hammer implies exhaustion and change in trend as the bears' gradual return.
With the break of the support at the 10-EMA, price dropped to $5.3. The signal of the stochastic oscillator is pointing down at 54%, suggesting further downward movement in price with more candles opened and closed below the two EMAs.
$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. $5.62 in the supply area was the high of yesterday session before the bear resumes the downward continuation. $5.08 was the point of momentum loss as the bulls stage a return.
The break of the 10-EMA with a large marubozu candle suggests bulls dominance with price up at $5.43 in the supply area. This was the high before the session ended.
Today’s market has the bulls briefly in control, pushing the coin up $5.53 and closing with an inverted hammer, an indication of exhaustion and trend reversal. The two EMAs is broken a confirmation of the bears' dominance in the short-term.
The stochastic oscillator signal points down at 32% and the price down to $5.34 below the two EMA, suggesting downward momentum in price of the coin with an increase in the bears' momentum in the short-term.
Live Cosmos (ATOM) Price:
1 ATOM/USD =$18.5905 change ~ -10.75%
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