As of now, Cosmos (ATOM) is exhibiting a unit price of $26.75 after experiencing a 5.33% dip in the past 24-hours. Although the bulls have increased their buying power, they are not able to outmatch the bears in terms of their selling power.
Therefore, the trend is now bearish and the investors are siding with bears to sell on any rally created by the bulls. The RSI for Cosmos is currently traveling a little below the mid-line, which suggests a bearish development.
This would go on to increase the self-confidence of the bears in vending more Cosmos. This would result in moving Cosmos’s price down to $23.18. This way, the bears will show their selling power to the bulls and lower their confidence even more.
For now, the bears have smelled victory and they are headed for higher selling activities. This would result in making a downward stream trend for Cosmos, pushing its price lower.
This would result in a rally of price dips for Cosmos, where Cosmos would first fall to $18.24 figure. After that, the price of Cosmos would go on to plunge down to $12.89, which would be the third strong support market for Cosmos.
If a miracle comes in favor of bulls, then they may succeed in launching a low-level rally. If the rally is low-level and manages to survive the selling pressure of the bears, Cosmos would rise to $30.85.
The first strong resistance mark ($30.85) would prove to be a very difficult mark for the bulls to cross. The bears will exert a tremendous amount of pressure to press Cosmos’s price lower. However, if the bulls win, the price of Cosmos will get elevated to $38.67.
After the $38.67 per ATOM mark, the bears may start scattering. It is expected that the investors may either move to the bullish or neutral zone. This is where the bulls have the opportunity of striking again and pushing ATOM’s price over the $52.33 mark.
Even for Litecoin (LTC), the support is very less when it comes to pushing its price higher. The bears are brewing more strength in order to launch strong selling activity. From the looks of it, the bears have already started working on their mission of dipping Litecoin’s price.
In the past 24-hours, the bears have created a 4.13% plunge, bringing LTC down to $109.23. If the bears continue pressing harder and marching against the bulls, then LTC’s price may dip to $95.98. If the bears keep selling LTC openly, they may pull its price down to $55.10.
On the other hand, the bulls may achieve $120.29, if they are able to defeat bears in the fight. This would put the ball in the bulls’ court and raise its price to $170.61.