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Trading Signals

Cosmos Atom cryptocurrency trades up $0.515, approximately 4.55% higher going into tomorrow

13 April 2023

ATOMUSD

Cosmos Atom spikes to $11.85 gaining $0.515.

United States's Initial Jobless Claims new data released of 239,000 below its previous figure.

Cosmos Atom upside coincides with further encouraging market factors as United States Crude Oil Inventories came out at 597,000, better than analyst estimates of -583,000 and improving upon the previous reading of -3.74 million.

Nevertheless, highly important Producer Price Index data from United States beat analyst expectations of 0.1% with a reading of -0.5%. Following a previous reading of 228,000, Initial Jobless Claims in United States released today at 12:30 UTC fell short of the 232,000 figure expected by analysts with an actual reading of 239,000.

Cosmos USD made an initial breakout above its 200 day Simple Moving Average at $11.77, a potential indicator of a newly emerging bullish phase. Cosmos Atom has just crossed its upper Bollinger Band® at $11.67, suggesting further gains could be on the cards. Cosmos Atom broke through the $11.42 resistance and climbed above it 43 cents; next resistance level is at $11.56.

Overall, looking at the technical analysis landscape, it seems Cosmos Atom might continue pointing upwards in the short term.

Cosmos Atom shows positive signs, other assets are also on par: FTX Token is up 9.54%. Having closed the previous session at $1,919, Ethereum is up 5% today to currently trade at around $2,014.64. EOS is up 4.53%.

Furthermore, the market is looking at projections for United States Core Retail Sales are set for a continuation of decline with -0.3% while previous data was -0.1%; data will be released tomorrow at 12:30 UTC.

Also worthy of note, United States Retail Sales is expected tomorrow at 12:30 UTC.

Since its 52-week high of $24.7, Cosmos Atom has lost 54.2% over the last twelve months.

Market Summary

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US markets end yesterday lower alongside bearish sentiment in European indices

Mixed sentiment leads TRON cryptocurrency to trade sideways; establishes tight $0.069 to $0.07 range

LTC cryptocurrency trades up $0.62, approximately 0.74% higher going into tomorrow

Binance Coin cryptocurrency trades up $1, approximately 0.32% higher going into tomorrow

Polkadot cryptocurrency trades up $0.036, approximately 0.64% higher this afternoon

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