{"id":533540,"date":"2023-05-17T14:50:19","date_gmt":"2023-05-17T14:50:19","guid":{"rendered":"https:\/\/wncen.com\/?p=533540"},"modified":"2023-05-17T12:55:36","modified_gmt":"2023-05-17T12:55:36","slug":"cosmos-atom-price-trends-upwards-a-potential-breakout-or-impending-correction","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/cosmos-atom\/cosmos-atom-price-trends-upwards-a-potential-breakout-or-impending-correction\/","title":{"rendered":"Cosmos (ATOM) Price Trends Upwards: A Potential Breakout Or Impending Correction?"},"content":{"rendered":"
After experiencing a bearish trend on April 17, 2023, that dropped the asset to a low <\/span>of $10.12 from $12.88<\/span><\/a>, Cosmos (ATOM) has managed to recover slightly.<\/span><\/p>\n Between February 8 and May 17, ATOM witnessed a significant decline of 32.89%, reaching a low point of $10.175 on May 9. <\/span>The current month has, however, brought a surge in demand for Cosmos (ATOM), leading to a remarkable price performance.\u00a0<\/span><\/p>\n According to data, ATOM experienced a substantial price decline, reaching $10.73, a <\/span>0.95% decrease<\/span><\/a> within the last 24-hour trading period.<\/span><\/p>\n Related Reading: Will Dogecoin (DOGE) Break Free From Limbo? Market Awaits Bullish Catalyst<\/a><\/p>\n Notably, the 24-hour trading volume is up by 9.04%, rising to $85 million, indicating that the market activities around ATOM are increasing. More buyers and sellers are actively participating in trading ATOM.\u00a0<\/span><\/p>\n Also, an increase of more than 9% signifies potential price volatility, which might influence the price of ATOM.\u00a0<\/span>But the current market sentiment of ATOM is bearish as its <\/span>Fear and Greed Index<\/span><\/a> shows 28, fear.\u00a0<\/span><\/p>\n This indicates a potential downtrend as investors and traders fear entering the market. This may also lead to high sell pressure from the investors. <\/span>Based on the Fear & Greed Index reading, the market may likely experience some price correction if the bears maintain this momentum in the coming days.<\/span><\/p>\n The 200-day and 50-day <\/span>Simple Moving Averages<\/span> (SMAs) currently exceed the ATOM\/USDT trading pair price. <\/span>This indicates that the market is on a bearish trend in longer and shorter timeframes. <\/span><\/p>\n Also, this means that the selling momentum is stronger than the buying. <\/span>However, if the bulls increase the buying pressure, some price changes might occur in a few days.<\/span><\/p>\nWhat’s Ahead For Cosmos (ATOM)?<\/h2>\n
Cosmos (ATOM) Technical Analysis<\/h2>\n