Claw

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The post <a rel="nofollow" href="https://coinpedia.org/price-analysis/atom-price-analysis-cosmos-under-bear-claw-plans-reversal/">ATOM Price Analysis: Cosmos Under Bear Claw Plans Reversal?</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
Despite the high anticipations for an Uptober rally, the market has been slower with an increase in overall volatility in the market. In resonance with the market-wide move, the ATOM price fails to rise above the 50-day EMA and continues the downtrend. 
With such strong selling pressure available, the <a href="https://coinpedia.org/information/atom-cosmos-price-prediction/">ATOM price prediction</a> warns of a prolonged downtrend in the falling channel.&nbsp; 
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Taking constant rejections from the 50-day EMA, the lower high formations are prominent in the ATOM price chart. With such overhead bearish pressure, the Cosmos prices form a falling channel pattern in the daily chart.&nbsp; 
The recent bullish reversal from the support baseline teased a jump to the overhead trendline. However, a double top pattern forming peaks at the declining 50-day Exponential MA leads to an early downfall.&nbsp; 
Currently, the ATOM price trades at $6.626 with an intraday move of -1.13%, teasing a downtrend continuation today.&nbsp; 
Technical indicators: 
EMA: The declining trend of the 50 and 200-day EMAs continues post-death cross, signaling a downtrend in the long term. Moreover, the 50-day EMA continues to provide dynamic resistance and keeps the bullish growth under check.&nbsp; 
RSI indicator: The daily RSI line crosses under the halfway line, reflecting a strong increment in bearish sentiments.&nbsp; 
<h2 class="wp-block-heading" id="h-will-the-atom-price-fall-back">Will The ATOM Price Fall Back?</h2> 
The ATOM price continues to fall within the bearish channel, fueled by the overhead supply and the market-wide correction. With such a decline in the Cosmos market value, the chances for a bullish reversal are growing slim.&nbsp; 
Despite the possibility of a bullish reversal from the support trendline, a possible reversal from $6.40 can help out the Cosmos trend. If buyers can rebound, the uptrend will renew the positive cycle with increased chances of rising above the dynamic resistance.&nbsp; 
On the other hand, the deep correction rally will find crucial support levels at the $6.25 and $6 marks.&nbsp; 

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ATOM Price Analysis: Cosmos Under Bear Claw Plans Reversal?

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