Cosmos Atom went up to $11.37 only to drop back some of the way and is now trading at $11.28.
United States GDP data will be released today at 12:30 UTC, with an expected decline to two.
This move comes while some more positive signs for Cosmos Atom are out as United States Core Durable Goods Orders came out at 0.3%, better than analyst estimates of -0.2% and improving upon the previous reading of -0.3%.
Nevertheless, highly important Crude Oil Inventories data from United States beat analyst expectations of -1.49 million with a reading of -5 million.
Meanwhile, United States 5-Year Note Auction released yesterday at 17:00 UTC with a figure of 3.5, while the previous figure was 3.665.
Cosmos USD made an initial breakout above its 10 day Simple Moving Average at $11.34, a potential indicator of a newly emerging bullish phase. In contrast, Cosmos Atom broke through the $11.12 resistance and climbed 16 cents above it.
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%. Bitcoin moves up 2.07% to trade around $29,000.
Meanwhile, UNICORN Token USD is down $0.197 from the beginning of the session and now trades around $6.43.
Furthermore, the market is looking at United States Pending Home Sales projected to decline to 0.5% while previous data was 0.8%; data will be released today at 14:00 UTC. Projections for United States GDP are set for a continuation of decline with two while previous data was 2.6; data will be released today at 12:30 UTC. United States Initial Jobless Claims expected to decline to 248,000 while its preceding data was 245,000, data will be available today at 12:30 UTC.
On a negative trend for around a month. Since its 52-week high of $21.43, Cosmos Atom has lost 50.09% over the last twelve months.
