COSMOS Price Prediction Today: Daily (ATOM) Value Forecast – June 24
- The short-term is in a downtrend while the medium-term outlook is in a range-bound market.
- Patience trading the consolidation in the medium-term.
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 range-bound market in the medium-term outlook. The bears lost momentum after a break down in price to $6.31 at the lower price range on 20th June with the bulls staging a comeback. The cryptocurrency surge higher to $7.09 in the upper supply area as the market opens yesterday.
The close of the candle with wick denote exhaustion hence the bears returned with the break at the 10-EMA with a marubozu as price fell to $6.77 before the end of yesterday session.
Today’s 4-hour opening candle at $6.77 opened as bearish marubozu indication strong bears pressure. As price further drops to $6.59. The stochastic oscillator signal points down an indication of downward momentum in price within the range in the medium term.
ATOMUSD is in consolidation and trading between $7.08 in the upper supply area and at $6.40 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 a bearish trend in the short-term outlook. The bulls lost momentum after a brief push after yesterday opening at $7.09 in the supply area. The second touch at the trend line resulted in a bounce with price down to $6.77 as the session ended.
Price broke the two EMAs and dropped to $6.59 in the demand area after opening today's opening.
The bears remained dominant but a minor push to the upside at the trendline may occur before downtrend trend continuation as indicated by the signal of the stochastic oscillator points up at 11%.
Live Cosmos (ATOM) Price:
1 ATOM/USD =$22.7529 change ~ -4.00%
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