Cosmos [ATOM] retests $8.7 but should bulls be hopeful of recovery?

December 29, 2022

By Akashnath S

• Cosmos [ATOM] lost almost 80% of its value between April to early June

• ATOM’s OI showed no signs of recovery 

Bitcoin [BTC] continued to hold on to the $16.6k support level. Trading volume has been low over the past two weeks. Bitcoin faces resistance at the $17k, $17.3k, and $17.8k levels. Even if these were beaten, the higher timeframe bias would remain bearish.

Cosmos [ATOM], on the other hand, saw a large move upward initiated in June. Yet, even these gains came after the asset lost 80% of its value from April to early June. Therefore, long-term investors must temper their bullish expectations.

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