ATOM Declines For A Fourth Straight Session, Nearing 1-Week Low

ATOM declines for a fourth straight session and neared a 1-week low with Decentraland also trading close to a one-week low on Monday as the cryptocurrency market fell by over 3% as we can see more today in our latest Cosmos news today.

ATOM declines for a fourth straight session with the token moving towards a one-week low. After a new high of $10.25, ATOM/USD dropped to an intraday low of $9.27 earlier today. The move came as ATOM moved closer to the support zone of $9.00 less than a week after nearing the breakout of $11.25. looking at the charts we can see that the recent declines came as the RSI dramatically dropped and moved from 67 on Friday to 50 today.

If the 14-day RSI fell below the 50 levels, it is also their support point, this can see ATOM moving below the $9.00 level. The prices of the token dropped by over 3.63% for the same point last week despite the streak of declines and like ATOM, MANA also traded to a one-week low during the session today. The world’s 34^th biggest crypto dropped to an intraday low of $0.9051 which is the lowest level since Thursday when the prices hit $0.8797.

The drop in MANA came after a failed breakout attempt above the resistance of $1.02 over the weekend. Despite the ceiling being held, MANA reached a one-month high but the bears pushed the token away from the point. As of the time of writing, MANA/USD is trading at $0.9128 which is above the support level of $0.9030, and the 14-day RSI is now sitting at the floor of 50 which will have to be broken if the bears are to extend the recent downtrend.

Also, MANA sustained the bullish streak despite the smaller decline that was seen in the past trading sessions. The coin opened at a lower price but then maneuvered and retraced after testing the $1.02. Surpassing this level is set to generate more gains and by looking at the charts, MANA surged with an increase of 2.20% in the past day with 15% in the past three days. Decentraland is surging and it managed to retest the $1.01 level once again.

Seeing the inverted Head and Shoulders formation shows a bullish trend that can predict the breach of the higher zone and further MANA’s price is trading above the 50-day EMA as it can be seen in the past few days which only confirms the potential breakout. MANA buyers are looking at the $1.12 mark that can be followed through the $1.30 level.