COSMOS Price Prediction Today: Daily (ATOM) Value Forecast – June 17
- The short-term is in a downtrend while the medium-term outlook is in a range-bound market.
- Patience should be exercised during the ranging market.
ATOM/USD Medium-term Trend: Ranging
Supply zone: $10.00, $12.00, $14.00
Demand zone: $4.00, $3.00, $2.00
ATOM continues in consolidation in the medium-term outlook. The bulls successfully made it to the upper supply area during yesterday session. ATOMUSD rose to $6.71 breaking the $6.60 upper price range before the close of the session. The bullish momentum was lost shortly after the market opens today when price up at $6.84.
The formation of an inverted bearish candle signal the bears returned as the cryptocurrency drops into the range. Price is down to $6.54 and the signal of the stochastic oscillator points down at 73%. These suggest a downward momentum in price within the range.
ATOMUSD is in consolidation and trading between $6.60 in the upper supply area and at $5.59 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. The $6.50 target predicted was attained during yesterday session as the bulls maintain their hold of the market. ATOMUSD soars to $6.84 in the supply area after today’s bullish opening price at $6.51.
The cryptocurrency is in an ascending channel. With the inverted bearish pinbar formed shortly after opening and above the upper line of the channel, the bears returned was established. Price fell to $6.53 as the bears target the lower line of the channel in the short-term.
The stochastic oscillator confirms the downtrend as it signal points down at 43%. $6.40 at the lower line is the bears' target as the bears' pressure becomes stronger with more candles opened and closed below the 10-EMA.
Live Cosmos (ATOM) Price:
1 ATOM/USD =$29.4603 change ~ 6.99%
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