ATOM Struggles to Retrace After Sharp Drop

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In Brief
  • ATOM has found support above the $5 area and an ascending support line.

  • Short-term indicators have turned bearish.

  • Another short-term decline is expected.

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The Cosmos (ATOM) price has been decreasing since August 25. While the long-term price action still looks bullish, another short-term decline is expected before the price resumes its upward movement. Retracement to Support The ATOM price has been falling since it reached a high of $8.84 on August 25. The price dropped sharply shortly after reaching the high, further accelerating its
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Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

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