Cosmos (ATOM) slipped below $6 on Tuesday after losing the lower end of its narrow trading range. With bearish sentiment prevailing all of last week, ATOM had dropped to $5.35 by Friday after a significant drop of 7.12%. ATOM continued its downward trajectory over the weekend as well, dropping by 4.37% on Saturday and a further 1.50% on Sunday. ATOM ended the weekend at $5.04.
The price fell further on Monday, hitting a low of $4.04 as selling pressure intensified across the market. Bears lost momentum at lower levels as demand picked up, allowing ATOM to settle at $4.65; the current session sees the price up by 3.28% as buyers attempt to reclaim $5. If ATOM can reclaim $5, it could move towards $5.50 or $6. However, if it cannot do so, it indicates that the selling pressure is still dominating, and the price could drop to $4.50 or lower.
