- ATOM’s resilience at $9.01 suggests a potential reversal, with rising trading volume signaling renewed interest.
- Stochastic RSI nearing oversold territory hints at a buying opportunity for traders eyeing a rapid recovery.
- MFI ratings above 50 underscore ongoing purchasing pressure, bolstering optimism for ATOM’s prospects.
Cosmos (ATOM) has been losing ground in the previous 24 hours, with bears able to drag the price down to an intraday low of $8.68. The buyers, however, swiftly reclaimed control and drove the price back up to $9.01, displaying resilience in the face of selling pressure.
This rebound implies substantial support for Cosmos at current levels, foreshadowing a possible reversal soon. ATOM was trading at $8.96 as of press time, displaying weakening selling pressure and a likely deterioration in market sentiment.
According to CoinStats, ATOM’s market capitalization fell by 0.12% to $3,364,855,448 during the bear rally, while its 24-hour trading volume increased by 10.19% to $106,816,439. This rise in trading volume suggests more significant activity and interest in ATOM, which might imply a change in investor sentiment.
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