Cosmos Atom trades at $14.75 after gaining $0.61 (4.31%).
United States Fed Chair Powell speech is next today at 17:00 UTC.
Concerning technical analysis and more specifically, trend indicators, Cosmos USD made an initial breakout above its 5 day Simple Moving Average at $14.59, a potential indicator of a newly emerging bullish phase. Analysis based on the asset volatility indicates that Cosmos Atom's upper Bollinger Band® is at $15.33, this is a slight indication of a slowdown. Chart analysis indicates although Cosmos Atom is appreciating today after rising as high as $14.75, price action is now slowing and consolidating around 5 cents below the $14.7 resistance level.
With market volatility ebbing, the current technical outlook indicates Cosmos Atom will remain range-bound for the immediate future.
Other markets are also showing gains as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Having closed the previous session at $0.255, Algorand USD is up 7.05% today to currently trade at around $0.273. Litecoin is up 3.29%.
Also worthy of note, tomorrow at 15:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to 2.15 million from the preceding figure of 4.14 million.
Elsewhere, United States Fed Chair Powell speech is expected today at 17:00 UTC. United States EIA Short-Term Energy Outlook is scheduled for today at 17:00 UTC.
On an upward trend for about a month now. Cosmos Atom has managed to gain 49.47% so far this year despite trading at lows around $6.07 previously.