ATOM Might Trade Below Its Immediate Support Level Despite A Recent Rally

ATOM had displayed optimistic price action recently after the coin rallied close to 14% a little over 48 hours ago. The coin had managed to undo the loss of 21% that it incurred in the past week with its recent rally. Bearish sentiments are still present across the whole industry and altcoins have also walked along the same price sentiment. Ever since ATOM revisited its all time high in the month of January this year, the coin has struggled to release itself from the grasp of the bears. At the time of writing, Cosmos (ATOM) was the 28th biggest crypto by market capitalisation as seen on CoinGecko. Bitcoin again slid below the $30,000 mark while Ethereum struggled to trade above the $2000 price level. The global cryptocurrency market cap today was at $1.32 Trillion after a fall of 4.6% in the last 24 hours. ATOM Price Analysis: One Day Chart Cosmos (ATOM) was trading for $10.57 at the time of writing. Gradual push from the bears have caused the digital asset to trade below its resistance lines. At press time, the coin was trading close to its immediate support level because the market received a fall in buying strength. Over the last 24 hours, the altcoin registered a sharp fall by 9% forcing the coin trade near the local support. Immediate resistance for ATOM stood at $13.73 and to trade above the same ATOM would need support of the buyers. Volume of the coin traded depicted bearishness which indicates selling momentum rising ...