Cosmos In A Downtrend Since Last 2 Months – Investors Shying Away From ATOM?

Cosmos (ATOM) started this year with a bang by attaining its all-time high (ATH) on January 17 when it traded for $44.45. But just like other cryptocurrencies, it failed to sustain that level and was relentlessly pummeled by the volatile crypto market. Cosmos has been down by 16.8% over the last month ATOM is forecasted to fall below $7 a month from now Cosmos remains in extended bearish momentum nine months after attaining its ATH Nine months later, Cosmos lost more than 70% of its ATH and is currently trading at $11.86 according to tracking from Coingecko at the time of this writing. In just two weeks, the asset went down by 10.3%. On a month to date basis, the 23rd largest cryptocurrency in terms of market capitalization declined by almost 17%. It failed to break free from its downward trend that has been going on since the latter part of September. Technical Indicators Not Looking Rosy For Cosmos Hopes for a bullish run for the asset this time might be met with disappointment as its analysis points are leaning towards extension of the current bearish momentum. Related Reading: Solana (SOL) Could Recoup Losses In Last 7 Days – Here’s How Source: TradingView While the Relative Strength Index (RSI) of Cosmos stayed above 40, it is still below the 50 neutral score. While not strongly, it will still pull the digital coin in a downward trend. In September, ATOM’s On-Balance Volume (OBV) swayed between two levels of resistance an...