- The Cosmos price analysis shows a decline
- Price levels have receded past the $35 zone.
- Successive bearish attempts observed this week.
The Cosmos price analysis is indicating a fall in the price today as the bearish momentum has been successful in overcoming the bullish rally. The bears have been able to fight back the outgrowing bullish momentum, and have secured their place on the price chart once again, ATOM is retracing after a few steep step-ups in price.
The drop has been significant as the trending line is also favoring the bears at this point. The price has undergone decline as it has now stooped low to the $35 level.
ATOM/USD 1-day price chart: Bears make way for a comeback after struggle
The 1-day Cosmos price analysis is going bearish for the day as the bears are making efforts to win back their position. The past week has been extremely successful for the bulls as they have covered a long-range and have broken past the resistance level as well.
Yet, today the trends are on the opposite as the bears have caused the price to decrease up to $35.324. The bullish pressure observed in the past few days has been extraordinary as the moving average (MA) is quite lower than the price i.e. at $28.5.
The volatility has increased tremendously as the upper Bollinger band value is now at $35.253 and the lower Bollinger band value is at $35.38. The recent bearish activity has caused the Relative Strength Index (RSI) score to hover straight ahead, though still above the neutral zone, at 72.45.
Cosmos price analysis: Bulls face obstruction above $39 as bears make entry
The 4-hours cart for Cosmos price analysis shows that a decline in price value has occurred today as well. The past few hours have been going supportive for the bears as they are trying to recover from a continuous defeat.
They have been able to take the price down to the $35.35 level, which is still above the moving average value i.e. $35. Furthermore, the volatility is increasing which is a relatively negative hint for the cryptocurrency’s future.
The upper Bollinger band is present at the $39.1 level whereas the lower Bollinger band is settled at the $25 level. Meanwhile, the average value of Bollinger bands is now present at $32, precisely. The RSI score is still quite high despite of the recent bearish trend and is nestled at 61.50.
As there has been a continuous rise in the price earlier this day, the ATOM/USD technical indicators chart for Cosmos price analysis is giving us a bullish signal. That is because there are 14 indicators found at the buying position, seven indicators at the neutral position and only five indicators at the selling position.
The Moving Averages indicators are also giving a strong bullish signal, as the chances have been high for the bulls in the prior week. There are 13 indicators resting at the buying position, while one indicator each is present at the selling and neutral positions.
The Oscillators are going bearish as the most recent trend has been towards the sellers side. There are six oscillators standing at the neutral level, four at the selling level and one oscillator at the buying level.
Cosmos price analysis conclusion
The given 1-day and 4-hours Cosmos price analysis is going favorable for the bears today as the coin value has faced a decline in the last 4-hours. The cryptocurrency has devalued to reach the $35 limit, because the bearish momentum is increasing gradually.
The short-term trending line is also facing the downward side because of the continual bearish attempts. Nonetheless, the support is still very strong at $25 and chances of recovery are adequate.
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