- ATOM/USD has continued to wander around the same previous range zones.
- The two movers are bound to make use of a reversal against either of the two range spots to their gaining of the market’s driving advantage.
ATOM/USD Long-term Trend – Ranging
- Distribution territories: $7.50, $8, $8.50
- Accumulation territories: $5.50, $5, $4.50
The market worth of Cosmos (ATOM) as paired with the USD has continued to wander around the same previous range zones that it kept during the last week’s trading sessions. The range zones are still seen at $6 and $6.50 price territories.
On June 13, the pair strived to touch the upper range line at $6.50 mark. The market fell to test the $6 lower range on the following trading day. The two SMA trading indicators, i.e. the 14-day SMA, and the 50-day SMA now closely move in the range zones towards the east direction. The Stochastic Oscillators have crossed at range 20 and moved towards range 60 to briefly point to the north.
The market movers, i.e. the bulls and the bears of the ATOM/USD trade may still have to continue featuring around the same current range zones, until the next trading days of the coming week. However, the upper range could be a good entry point for the bears while the lower range spot could serve a decent line of entry for the bulls especially at the sight of a bearish move correction from below the lower range tagged at $6 price line.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
Bitcoin Market Price Chart in RealTime