Cosmos

16 Eyl

• There was a significant drop around mid-August to the beginning of September, followed by a slight consolidation period.
  
• The price is currently touching the lower band, indicating that it may be oversold or the downtrend could continue.
  
• Spikes in volume during downtrend periods, particularly in late August and mid-June, confirm the strength of the sellers at those times.
  
• Support: Around $3.6, which was tested recently and acted as a potential bottom.
  
• Resistance: Immediate resistance appears around the $5 level, which coincides with the upper Bollinger band.
  
• The proximity to the lower Bollinger band suggests bearish momentum, but a short-term bounce is possible if the price stays above key support levels.
  
• ATOM/USD is in a strong downtrend with signs of potential short-term consolidation. The price is near oversold conditions, but without a significant increase in volume and momentum, the downtrend may continue. Keep an eye on the $3.6 support level—if this breaks, further downside could follow. Conversely, a break above the $5 resistance could indicate a reversal or a short-term relief rally.