Technical Analysis Suggests ATOM Price Still Has Room to Fall -Breaking
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The Technical Analysis suggests that the ATOM price still has room to fall- Cosmos (ATOM), with $17.98, is currently down.
- ATOM’s trading volume has fallen by 13.77% in the past 24 hours.
- RSI14, 50 and 100 EMA have yet to indicate a trend reversal since the ATOM price still has some room for fall.
CoinMarketCap reports that Cosmos (ATOM), which is down for the past 24 hours, has dropped to $17.98.
LINK has seen a decrease in its price over the last 24 hour. The same goes for the rest the cryptocurrency market. LINK also experienced a decline in price within the last day. ATOM’s price is also down by 14.06% in the last seven days.
ATOM has seen a significant drop in trading volume over the last 24 hour. Its 24-hour trading volume is now at 436 million and has dropped 13.77%. The token’s circulating supply is around 286 million ATOM.
When it comes to market cap, ATOM is ranked 27th on CoinMarketCap’s list of the biggest crypto projects. ATOM’s market capital currently stands at $5.1 Billion. With a market capital of more than $5.2 billion, it is just below FTX Token. ATOM is ranked one spot higher than (UNI) with a market capital of over $4.8 billion.
There is still room for ATOM’s price to move down (Source: TradingView)
AtOM/USDT’s daily chart shows that the RSI14 stands at 38.98. The RSI14 is around 38.98, which indicates that ATOM’s price has some room for decline as it moves towards the oversold zone. A longer-term bearish trend is also evident as the 100 EMA and 50 EMA still haven’t crossed.
The price of ATOM/USDT could fall to $10 per coin if we go into a more bearish period.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. This article is not intended to be used as investment advice. CoinQuora urges users to conduct their own research prior to investing in cryptocurrency.
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