Data from Cryptovizor:
TREND 🔴🔴🔴🔴🔴
MA 🔴 RSI 🔴 09.06.2023
Volume 1D 8.65 M
CD Week 71.39 M
Cosmos (ATOM) is currently ranked 27th in the market with a market cap of approximately $4.26B. It's a decentralized network of independent parallel blockchains, creating the foundation for a new token economy.
Analysis:
- The asset is in a strong bearish trend, indicated by five consecutive red bars.
- Both the MA and RSI indicators are in the bearish zone, suggesting further downward movement.
Comment: The bearish trend continues. If the current green zone doesn't show any reaction, I expect the next one to do so and so on. On bounces, one can look for short opportunities from resistance levels on the lower timeframes.
