Cosmos Price Prediction for Today, October 11: ATOM/USD May Slide Below $12.0 Level

The Cosmos price prediction dips below $12.53 today as the coin moves to break below the lower boundary of the channel.

Cosmos Prediction Statistics Data:

• Cosmos price now – $12.28
• Cosmos market cap – $3.5 billion
• Cosmos circulating supply – 286.3 million
• Cosmos Coinmarketcap ranking – #22

ATOM/USD Market

Key Levels:

Resistance levels: $15.0, $16.0, $17.0

Support levels: $10.0, $9.0, $8.0

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ATOM/USD is currently heading towards a downtrend as the sellers dominate the entire crypto landscape. At the time of writing, the Cosmos price is hovering below the 9-day and 21-day moving averages, which may likely touch the nearest support at $11.00. More so, the technical indicator has remained bearish as the Relative Strength Index (14) moves to cross below the 40-level.

Cosmos Price Prediction: ATOM Price May Create More Supports

As the daily chart reveals, the Cosmos price heads to the downside, the best the bulls can do is to defend the support at $12.0 and focus on pushing the coin above the 9-day and 21-day moving averages. However, the coin has been following a downward movement but the sharp drop today affected the buyers from an attempted recovery above the opening price at $12.42.

Meanwhile, if there is an increase in buying pressure, the price may break above the moving averages to reach the nearest resistance at $13.00. While trading at that level, a bullish continuation may locate the resistance levels at $15.0, $16.0, and $17.0 respectively. In addition, if the coin decides to remain on the negative side, any further bearish movement could hit the support levels at $10.0, $9.0, and 8.0.

Against Bitcoin, the bears keep the Cosmos price below the 9-day and 21-day moving averages. According to the recent negative sign, the trend may continue to follow the downtrend as much as the buyers failed to push the price above the moving averages.

However, the technical indicator Relative Strength Index (14) may cross below the 40-level, and a bearish continuation could lower the price to the support levels of 5500 SAT and below, but once it moves out of this zone, the market price may begin an upward trend towards the resistance level of 8000 SAT and above.