Cosmos was up 5% yesterday, and its value is almost at its highest point in a while. All major cryptocurrency markets have been going up recently, but the overall market cap has gone down by 0.24% right now. Solana is worth more than $20 right now and it looks like that price won’t be changing much soon.
ATOM Reaches Highest Point Before Dropping Again
The price of Cosmos (ATOM) was doing well and staying close to a recent high. On Tuesday it reached the highest point, which was $13.47 and today it briefly got even higher at $13.41 before dropping back down. The last high was three weeks ago, but now the price has gone back down to around $12.55.
After the price of stocks failed to increase above $13.50, a lot of people decided to sell their stocks and take profit. This is shown in the chart which shows that the 14-day Relative Strength Index could not pass the number 57.00. Right now, the RSI is at 51.52 which could possibly decrease further down to 50.00.
Spotting a Change in the Stock Market
Today, ATOM and SOL (solana) both stayed close to their recent highs despite the change in market sentiment.
SOL’s price dropped to $20.31 earlier today, but yesterday it went as high as $22.11, which is its strongest level since March 2 when it was almost at $23.00.
The graph shows that the stock market prices changed when they hit a peak. This peak was around 50.00 since late February and now it’s gone down to 48.91. If it goes any lower, the price will go down to 45.00. You can register your email here if you’d like to get weekly updates about the stock prices in your inbox.
Do you think the recent stock market trend is starting to slow down? Let us know what you think by leaving a comment below.