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**ATOM Price Struggles at $4.26 as Cosmos Faces Bearish Technical Signals**
Cosmos (ATOM) has been experiencing a tumultuous ride over the past few days, as the token’s price struggles to maintain momentum at $4.26.
According to recent data, ATOM currently trades at $4.26 with mixed signals in the technical analysis realm. While today’s 2.43% gain may offer some optimism for bulls, the bearish MACD momentum and proximity to support levels suggest caution.
The Relative Strength Index (RSI) indicator is positioned at 42.30, indicating a neutral zone that fails to provide clear direction. This ambiguity creates uncertainty for traders seeking decisive signals to inform their next moves.
It appears that Cosmos’ price action has recently experienced dramatic swings between bullish and bearish sentiment. On July 29, ATOM plummeted 4.51% to $4.66 despite early recovery attempts, as a strong selling pressure emerged near resistance levels. This decline effectively erased gains from the previous day’s rally.
The volatility gauge is now on moderate alert, with an average true range (ATR) of $0.25 indicating potential for swift moves between support and resistance levels. This heightened sensitivity necessitates that traders adjust their risk tolerance in accordance with market conditions.
To begin making informed decisions, consider your trading style and risk tolerance before entering the fray.
Source: Blockchain.News
