Kosmos Price Analysis: The value of the cryptocurrency is returning to $ 30.77, showing a bearish trend
TL; DR breakdown
- The price has dropped to $ 30,767.
- The Kosmos price analysis favors bears.
- Support is strong at $ 25.94.
The latest Cosmos price analysis shows an increasingly bearish trend as the price has followed a downward movement in the past 24 hours. Price was on the way to rebound earlier this week as more bullish activity was sustained. But today the bears managed to sway the market by bringing the price down to its previous low of $ 30.76.
ATOM / USD 1 Day Price Chart: The price experiences a sudden drop near the USD 30.76 rand
The one day Cosmos price analysis shows favorable results for the sellers as it sees a slight decrease in the ATOM / USD market value. The bullish momentum was just stabilizing as the bulls tried to maintain their lead. But the uptrend is now being hit by an adversarial attack by the bears as the price took a sudden drop by lowering it to $ 30,767. The moving average (MA) value is still at $ 29.674.
ATOM / USD 1-day price chart. Source: TradingView
Overall, the bears have led the market for the past month and now it has been restored to their top position. The Bollinger Bands Indicator also shows a change in the values; as now, the top band is touching the $ 39.46 mark and the bottom band is at the $ 25.94 position. The Relative Strength Index (RSI) is in the neutral range, i.e. 44.98.
Kosmos price analysis: Bullish curve drifts past the $ 30.74 mark after the last uptrend
The price has been fairly stable in the last few hours after the bullish recovery. The market experienced a bearish shock in the early hours of the morning as selling activity increased. But the last four hours have again been shown to be beneficial for the bulls as there is an improvement in coin value. The price now hits a high of $ 30.74, which is even higher than its moving average of $ 29.84.
ATOM / USD 4-hour price chart. Source: TradingView
The rise in volatility suggests that the approaching hours could have a negative impact on the coin value. The upper and lower Bollinger Bands have also repositioned themselves as the upper band is now at $ 30.99 while the lower band is at $ 27.24. The RSI curve has risen to 59.50 in the past few hours.
ATOM / USD technical indicators chart. Source: TradingView
The chart of technical indicators suggests that the past few weeks have been pivotal in the progress of the cryptocurrency. There is a sell indicator as there are 10 indicators on the sell position, nine indicators on the neutral position and seven indicators on the buy position.
The moving averages indicator also points to a downtrend due to increasing downward pressure. There are a total of eight indicators on the sell mark, six indicators on the buy mark and one indicator on the neutral mark. The oscillators give a neutral signal because there are eight oscillators in the neutral position, two indicators in the sell position and one indicator in the buy position.
Conclusion of the Kosmos price analysis
Hourly and daily Cosmos price analysis confirms a decline in the coin value as the bears brought it back down to $ 30.77. The bearish trend is expected to intensify over the next few days as sales momentum picks up. However, the hourly forecast is encouraging as there has been more buying activity in the past few hours.
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