COSMOS Price Prediction Today: Daily (ATOM) Value Forecast – July 8
- The short-term is in a downtrend while the medium-term outlook is in a range-bound market.
- Patience should be exercised at this period for a breakdown of a breakout to occur.
ATOM/USD Medium-term Trend: Ranging
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. $5.48 was the high while $5.20 was the low of the coin during the weekend as the coin enters consolidation. The market opens today with the bears briefly in charge as the cryptocurrency drops to $5.26 after the opening price at $5.39.
The signal of the stochastic oscillator pointing down at 34% suggesting further downward movement in within the range in the medium-term.
ATOMUSD is in consolidation and trading between $6.00 in the upper supply area and at $5.00 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.
ATOM/USD Short-term Trend: Bearish
ATOM is in the bearish trend in the short-term outlook. Although the bulls had controls shortly after today’s opening at $5.42 as the coin rose to $5.47 in the supply area. The supply area was around the trendline a resistant against upward price movement.
The bears return was signaled by the bearish spinning top at the supply area. Price fell to $5.26 as the bears remained in control of the market in the short-term.
The stochastic oscillator signal points down at 12% in the oversold region an indication of downward momentum in price.
$5.12 in the demand area is a key demand area, as the bears keep the pressure up.
Live Cosmos (ATOM) Price:
1 ATOM/USD =$19.6773 change ~ 1.74%
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