Cosmos $ATOM Price Analysis
Cosmos #ATOM kicked off a rally on Friday, surging past $4.50 by Tuesday as buyers targeted key moving averages and resistance levels. However, bearish market sentiment has driven significant declines over the past two sessions.
On Monday, June 2, ATOM climbed 2.43% to $4.47. Momentum waned on Tuesday, with a 1.1% drop to $4.42. Sellers took over on Wednesday, pushing the price down 3.4% to $4.27. The decline deepened on Thursday, with a 4.4% plunge to $4.08. A recovery followed, with ATOM hitting an intraday high of $4.29 before closing at $4.17, up 2.17%.
Saturday saw continued gains, with a 3.2% rise to $4.31. Bearish pressure returned on Sunday, leading to a 0.9% drop to $4.27. The new week started positively, with ATOM gaining nearly 4% on Monday to $4.44. On Tuesday, it rose 3.47%, crossing the 20-day SMA to settle at $4.59. However, momentum faded on Wednesday, with a 1.96% decline to $4.50. Currently, ATOM is down nearly 3%, trading around $4.38 after slipping below the 20-day SMA.
