Cosmos (ATOM) Receives Bearish Rating Amidst 7.98% Price Drop, Bucking Broader Crypto Market Trend
Crypto News – Tuesday brought a bearish rating for Cosmos (ATOM) according to InvestorsObserver. The cryptocurrency asset known as Cosmos experienced a significant decline of 7.98%, with its price now at $9.21, in contrast to the broader crypto market, which saw a 0.64% decrease.
In recent days, Cosmos has consistently received a Bearish rating on the InvestorsObserver Sentiment Score, a metric that evaluates its performance over the past five days by analyzing both trading volume and price movement. This Sentiment Score offers a concise and short-term assessment of Cosmos’s recent performance, serving as a valuable resource for both short-term investors seeking to capitalize on rallies and long-term investors looking to make strategic decisions during price dips.
Currently, Cosmos is trading around its five-day midpoint, situated 12.44% below its recent five-day high and 10.42% above its five-day low of $8.34. The price of Cosmos has dipped below its support level, which was established at $9.3, while resistance is observed at $10.62. This indicates a potential period of volatility as selling pressure pushes the cryptocurrency’s price below its recent support threshold.
Additionally, Cosmos has been experiencing lower trading volume in recent sessions. Today’s trading volume falls below the average volume observed over the past seven days, indicating reduced market activity for the cryptocurrency.