The current value of the stochastic RSI is 45.09 points and it may soon reach the demand zone. The %K has recently crossed below the median line whereas the %D line is steadily approaching it. The stochastic RSI is taking a negative reversal from the median line which is acting as its recent resistance. Presently, the RSI value is approximately 51.66 points, encountering notable resistance from the 14 SMA at 42.38 points. The RSI line is steadily ascending towards the demand zone, displaying a persistent upward trend. The sentiment metrics indicate that buyers are currently a little hesitant regarding the token. The total bullish sentiment metrics declined by 57.38% last week. Steady Increase in TVL Of CosmosĪn increase in negative sentiments of investors is observed across various social media platforms, according to the metrics presented by the LunarCrush platform. The buyers are attempting to salvage the price, but this task may prove to be quite challenging. The major technical indicators were providing bearish signals whereas the price was facing constant rejection from the 50 EMA on the daily time frame.Ĭurrently, the ATOM token is witnessing a substantial decline of 21% as it has recently broken below the demand zone and undergone a subsequent retest. Despite the buyers’ multiple endeavors to initiate a positive recovery from their demand zone, these efforts ultimately proved fruitless.īased on the previous analysis, it was projected that the candlestick pattern and price action indicated a potential breach of its previous support level. It is basically an ecosystem of connected blockchains.ĪTOM’s price plummeted below its critical support level of $10,000, exhibiting a highly bearish momentum. This project provides a solution for some ineffective proof-of-work protocols that are provided by other major cryptocurrency platforms. 2 ATOM has increased by 0.095% in the last 24 hours.Ĭosmos (ATOM) is an organization that works on unraveling the problems that are experienced by the Blockchain industry.1 Cosmos’ token’s price is under increasing selling pressure from bears.
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