$ATOM 12h #analysis

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.

#ATOM #BinanceTournament #trading #crypto2023