ATOM Is Likely to Continue Down to $5.00
Cosmos (ATOM) is up 1.78% this week, trading at $6.540, closely tracking the broader market, where Bitcoin has gained 1.30% to $96,034. Despite the recent uptick, ATOM is struggling to hold onto its gains, having lost 27.0% since December 17, pulling prices down to a recent low of $5.810.
This temporary stabilization may precede a retest of the $7.500 resistance, potentially followed by a deeper decline toward the stronger support at $5.000. This critical level could serve as a solid foundation for a recovery, should market sentiment improve and broader cryptocurrency trends turn positive.
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