- Cosmos price analysis is bearish.
- ATOM Price has moved down to $26.
- Support is present at the $25.4 level.
The latest Cosmos price analysis shows cryptocurrency trends are going in the bearish direction for today. The price of ATOM/USD is rapidly declining as it has now dropped down to $26. The short-term trending line is going towards the descending direction as well as the bears have been at the leading position since 8th February. The bears might take the price further below to set a lower low for February.
ATOM/USD 1-day price chart: Price lowers to $26 along with decreasing volatility
The one-day Cosmos price analysis chart is showing signs of further loss after the bears took over the market earlier this day. The past few days have also brought negative news for the bears, and the trend has been unchanging for today as well. The price has moved down to the $26 level after the bears continue their lead today. The momentum is building up at a rather slow pace now, and the price continues to trade below the moving average (MA) value, i.e., $28.8.
ATOM/USD 1-day price chart. Source: TradingView
The volatility is decreasing, and as a result, the Bollinger bands’ values have changed to the following figures; the upper band is now at $33 while the lower band is at $25.2, representing the strongest resistance and support, respectively. The Relative Strength Index (RSI) score has followed downward movement as well and has finally reached index 38 under bearish pressure.
Cosmos price analysis: Latest developments and further technical indications
The latest Cosmos price analysis shows that the price has been going downwards for the last four hours as well. The trending line has been towards the bearish side since the past week, and it is still moving in the same direction. The loss has been huge as the ATOM/USD price is now at the $26 position, which is quite near to the support level as the downtrend has been of quite an impact.
ATOM/USD 4-hours price chart. Source: TradingView
The moving average is trading at $26 below the SMA 50 level, which is also a bearish indication. The Bollinger Bands Indicator is at an average of $27, whereas its upper value has gone to $29.1 and its lower value to $25.2. The RSI score is on the lower side as the indicator is trading at index 33 and may enter the undersold region if selling pressure continues.
Cosmos price analysis conclusion
From the given Cosmos price analysis for one day and four hours, it can be inferred that the cryptocurrency is in a tough situation if compared to the past month conditions. The SMA 20 curve is continuously trading below the SMA 50 curve as the price is covering the downwards range with each passing day and is expected to go further down. This might result in the price of ATOM going further below to retest the $25.4 support in the coming hours.
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