🚨Cosmos (ATOM) Price Analysis: Bearish Trend Deepens – Will Support Hold? 🔻
💥Recent Price Action Overview
Cosmos (ATOM) saw a sharp decline following its post-election rally, which peaked at $12.25. Bearish momentum took over, pushing the price below key support levels:
📉Fell to $7.25 after losing momentum early last week.
📊Strong recovery above $9 by Friday, but couldn't break the 20-day SMA.
🔍Key Price Movements
📉ATOM dropped by 2.52%, settling at $8.87 at the start of the week.
📉Sellers took control, with ATOM falling 4% to $8.53 on Tuesday.
📉A significant 10.27% drop on Wednesday sent ATOM below $8, closing at $7.65.
🔮Current Sentiment & Outlook
⚠️Bearish sentiment intensified as ATOM dropped 11% on Thursday, slipping below the 50-day SMA.
🔴In the current session, ATOM is down 6.53% and trading at $6.36.
⚡What’s Next for ATOM?
🔧ATOM remains in a strong downtrend. The key support at $6.36 will be crucial for any potential recovery.
🔍Stay tuned for potential price action as ATOM struggles to regain bullish momentum!
