Cosmos Price Prediction: Bears are back in the market 

• 1 Cosmos token was presently astatine $12.91 pinch a alteration of 0.11% during nan intraday trading session.
• 2 The 24-hour debased of ATOM was $12.52 and nan 24-hour precocious of ATOM was $13.18.
• 3 The existent Cosmos token value is supra 100, and 200-Days  EMA.

The brace of ATOM/BTC was presently trading astatine 0.0005578 BTC pinch a dip of 0.42% complete nan intraday trading session.

Cosmos’ value study suggests that it is presently successful a bearish phase. 2022 for ATOM was not a bully twelvemonth because, from nan commencement of nan year, it was successful steep diminution and was until May 2022. Buyers tried and ATOM was recovering moreover reaching its secondary guidance of $16.447 but sellers took nan ATOM successful their hands and pushed backmost down forcing it to participate its request zone. But aft nan commencement of 2023 token was perpetually rising breaking its superior support and moreover reaching its superior resistance.

But aft nan statement of a bearish marubozu candlestick complete nan regular floor plan token showed a reversal and started its bearish phase. Bearish marubozu indicates that sellers are successful power of nan market. It suggests that sellers are trying to return backmost nan marketplace and push nan token downwards. Currently token is trading adjacent its superior support, if sellers unit nan token to break its superior support past nan token whitethorn participate its request zone. If this script happens past it will put nan token successful a captious position. This besides signals agelong traders to adjacent their trades.

Source: ATOM/USD by Tradingview

The measurement of nan coin has decreased by 17.50% successful nan past 24 hours. The alteration successful measurement indicates that nan number of sellers has increased. This shows that sellers are trying their champion and location is simply a narration betwixt measurement and nan value of ATOM, which represents spot successful nan existent downtrend.

The method study of Cosmos: 

Source: ATOM/USD by Tradingview

RSI is decreasing successful nan oversold area and has shown a antagonistic crossover which indicates that nan sellers are coming successful nan mostly and pushing ATOM downwards. This suggests nan spot of nan existent bearish trend. The existent worth of RSI is 44.29 which is beneath nan mean RSI worth of 50.39. 

The MACD and nan awesome statement are decreasing and intersecting and besides showing signs of a antagonistic crossover, which besides supports nan RSI indicator. Investors request to watch each move complete nan charts during nan day’s trading session.

Conclusion

Cosmos’ value study suggests that it is presently successful a bearish trend. After somewhat recovering from nan not-so-good 2022, aft nan commencement of 2023 moreover reaching nan secondary guidance but pinch nan statement of bearish marubozu sellers came backmost successful nan marketplace and pushed down ATOM. The alteration successful measurement besides shows nan deficiency nan antagonistic sentiment successful nan market. RSI and MACD are decreasing and showing signs of antagonistic crossover which only fortify nan existent bearish trend, arsenic per nan method indicators. Short traders tin return advantage of nan existent marketplace conditions,

Technical Levels

Resistance level-  $15.432 and $16.447

Support level- $12.814 and $8.540

Disclaimer

The views and opinions stated by nan author, aliases immoderate group named successful this article, are for informational purposes only, and they do not found financial, investment, aliases different advice. Investing successful aliases trading crypto assets comes pinch a consequence of financial loss.