ATOM Drops for Fourth Straight Session, Hitting 1-Week Low – Market Updates Bitcoin News

Cosmos fell for the fourth consecutive session Monday as prices dipped to their lowest level in a week. Decentraland also traded close to the one-week mark on Monday as the global cryptocurrency markets fell more than 3% at writing.

Cosmos (ATOM)

Cosmos (ATOM), which was down for its fourth session in a row, fell towards the one-week mark.

Following a high of $10.25 during yesterday’s session, ATOM/USD dropped to an intraday low of $9.27 earlier today.

ATOM’s support point at $9.00 is now closer than it had been a week ago, just as the resistance at $11.25 was about to break.

ATOM/USD – Daily Chart

As you can see, the relative strength indicator (RSI), has dropped from 67 to 50 on Friday.

ATOM may move to $9.00 if its 14-day RSI drops below the 50 level. This is also a support line.

Overall, the price of the token dropped by only 3.62% from last week’s same date, in spite of a long streak of declining prices.


Like ATOM, decentraland (MANA) was trading close to a one-week low during today’s session.

The world’s thirty-fourth largest cryptocurrency slipped to an intraday low of $0.9051 earlier today, which is its lowest level since last Thursday, when prices dropped to $0.8797.

The decentraland price dropped after a failure to break above $1.02 resistance on Sunday.

MANA/USD – Daily Chart

MANA reached its one-month highest point despite the ceiling still being in place. However, bears now have the ability to push the token out of this level.

The MANA/USD trades at $0.9128 as of this writing. That is just a marginal increase from the $0.9030 support level.

The 14-day RSI stands at a level of 50. If bears wish to continue this current downtrend, they will need to break it.

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Are you optimistic that decentraland will rise above $1.00 next week? We’d love to hear your comments.

Eliman Dambell

Eliman is a market analyst with a diverse perspective. He has worked in various capacities, including as a retail trading teacher, brokerage director, and market commentator for Crypto, Stocks, and FX.

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