ATOM’s price loses its demand zone of $13 as the price trades to a low region of $10 and could experience more sell-off. ATOM’s price continues to look weak after a bearish downtrend with the market’s current state, as things look uncertain for most traders and investors. ATOM’s price trades below the daily 50 Exponential Moving Average (EMA) as bulls eye levels to buy in. In the last two days, the crypto market has seen some drastic shift in sentiment, with Cosmos (ATOM) and the price of other altcoins battling for survival after the news that Binance would not be taking over FTX after conducting due diligence. Previous weeks saw the price of Cosmos (ATOM) perform well, rallying from a low of $13 to a high of $15. Most altcoins trend higher as many produced gains of over 200%, with many hoping for more recovery bounce. Still, these expectations were cut short by the uncertainty surrounding the crypto market, leading to much fear about where the market is headed. (Data from Binance) Related Reading: Bitcoin Price Resists But Breaking ..
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