Cosmos Cryptocurrency Forecast
Evaluation of Cosmos cryptocurrency downgraded after the last trading session.
(Updated on Apr 24, 2024)
The Cosmos cryptocurrency price fell by -4.24% on the last day (Wednesday, 24th Apr 2024) from $8.91 to $8.53. During the last trading day the cryptocurrency fluctuated 5.32% from a day low at $8.44 to a day high of $8.88. The price has fallen in 5 of the last 10 days but is still up by 3.93% over the past 2 weeks. Volume has increased on the last day by 142 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 166 million shares were bought and sold for approximately $1.42 billion.
The cryptocurrency lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $8.12 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the cryptocurrency is expected to rise 3.00% during the next 3 months and, with a 90% probability hold a price between $8.37 and $14.44 at the end of this 3-month period.
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ATOMUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 5.45%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Cosmos cryptocurrency holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $8.59 and $10.49. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the cryptocurrency should be followed more closely.
Support, Risk & Stop-loss for Cosmos cryptocurrency
Cosmos finds support from accumulated volume at $8.26 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $0.449 between high and low, or 5.32%. For the last week, the cryptocurrency has had daily average volatility of 5.52%.
Cosmos is oversold on RSI14 (21). Some cryptocurrencies may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ATOMUSD) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Cosmos to open at $8.62, and during the day (based on 14 day Average True Range), to move between $7.81 and $9.25, which gives a possible trading interval of +/-$0.720 (+/-8.44%) up or down from last closing price. If Cosmos takes out the full calculated possible swing range there will be an estimated 16.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $8.26 (3.16%) than the resistance at $9.31 (9.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Cosmos cryptocurrency A Buy?
The Cosmos cryptocurrency holds several negative signals and despite the positive trend, we believe Cosmos will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this cryptocurrency. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.659 Sell Candidate Downgraded
Predicted Opening Price for Cosmos of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $8.62 ( 1.00%) | $8.53 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ATOMUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.07 | 6.26 % | |
| R2 | 8.89 | 4.25 % | ||
| R1 | 8.79 | 3.01 % | ||
| Current price: | 8.53 | |||
| Support | S1 | 8.45 | -1.01 % | |
| S2 | 8.34 | -2.26 % | ||
| S3 | 8.17 | -4.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.34 | 21.21 % | |
| R2 | 10.29 | 20.59 % | ||
| R1 | 9.31 | 9.17 % | ||
| Current price | 8.53 | |||
| Support | S1 | 8.26 | -3.16% | |
| S2 | 8.21 | -3.79% | ||
| S3 | 8.09 | -5.16% |
FAQ
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