Bulls Outbreed Bears After ATOM Price Nosedives to 7-Day Low
- ATOM price falls to a 7-day low due to bearish pressure.
- According to recent research, bulls have refuted bear momentum.
- Indicators indicate the upward trend may endure.
Cosmos (ATOM) bulls awoke after the price dropped to a 7-day low of $13.25, pushing it to an intraday high of $13.80. ATOM’s price has since stabilized in the $13.50 – $13.60 area, indicating growing investor confidence in the cryptocurrency’s potential value. At press time, the bullish intervention had increased the price by 2.60% to $13.76.
The market value increased by 2.56% during the upturn, reaching $3,939,430,281. This rapid influx of buying activity during this gloomy market indicates that investors are enthusiastic about ATOM’s prospects. However, despite this recent bullish intervention, it is still being determined if it was the product of genuine confidence or market manipulation, as 24-hour trading volume plummeted by 26.15% to $133,213,853.
Although bullish, the blue MACD line on the 4-hour price chart swings in the negative zone with a value of -0.01433748, suggesting bearish momentum in the market. Moreover, the signal …
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