Sequence

Cosmos

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/cosmos-atom-price-prediction-and-analysis/" data-wpel-link="internal">Cosmos (ATOM) Price Prediction and Analysis</a><br></p>
<p style="text-align: justify"><strong>Cosmos (ATOM)</strong> has started to erase the gains it made in the last 30 days, and according to analyst Ali Martinez, more losses could be on the way. His analysis indicated that ATOM could begin the new year with a correction to $9.</p> 
<h2 id="atom-price-prediction">ATOM Price Prediction</h2> 
<p style="text-align: justify">Ali Martinez’s post about X revealed that he used the Tom DeMark (TD) Sequence to arrive at his conclusion. The TD Sequence indicates the exhaustion time of a trend and the possible price reversal. Therefore, the forecast suggested that the buyers who pushed the token to $12.25 on December 26 are now out of the market. At the time of writing, ATOM’s price was $10.58, indicating a 6.38% drop over the last seven days. A few days ago, an increase in the price of ATOM was reported. In this article, we also highlighted how impressive the activity on the Cosmos network was.</p> 
<p style="text-align: justify">This situation led to control over the volume in the past week. According to our analysis of on-chain data from Santiment, ATOM’s volume had decreased. At the time of writing, the volume was 129.8 million. This was a significant drop compared to the volume on December 26, which was 479.75 million. Volume indicates the amount of cryptocurrency investors during a specific period. Hence, the decline was evidence supporting the initial idea that buyers were retracting their interest in ATOM.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-296705 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/01/santiment.png" alt="" width="2048" height="693"></p> 
<h2 id="current-data-on-atom">Current Data on ATOM</h2> 
<p style="text-align: justify">Technically, the cryptocurrency’s momentum has continued deep into the bearish zone. This claim was confirmed by the moving average convergence divergence (MACD). At the time of writing, the MACD was -0.020. Negative values of this indicator suggest that the downward momentum is increasing. Therefore, Ali Martinez’s prediction that ATOM could fall below $10 might be correct. Another indicator supporting this bias is Aroon. At the time of writing, Aroon Down was at 85.71%, while Aroon Up was at 7.14%. This crossover indicates that the downward trend could continue in the short term.</p> 
<p style="text-align: justify">Despite the potential for a decline, ATOM’s funding rate remained positive at 0.039%. This suggests that investors were optimistic about the price movement at the time of writing. More long positions were paying funding fees to short positions. However, a high funding rate is not a good entry signal while the ATOM price is falling. Therefore, investors on the sidelines should be cautious when the funding rate turns negative. Another opportunity could be when ATOM potentially rebounds after its decline.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/cosmos-atom-price-prediction-and-analysis/" data-wpel-link="internal">Cosmos (ATOM) Price Prediction and Analysis</a></h5>

Cosmos (ATOM) Price Prediction and Analysis

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