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Cosmos (ATOM) and Polygon (MATIC) continue to be driven away by bears after posting declines for the past 12 months.
With the lack of consolidation to support prices, both tokens are also forecasted to remain in the red in the near term.
Cosmos (ATOM) Price Hits Reverse
Cosmos (ATOM) is scheduled to release its revised whitepaper “ATOM 2.0” on September 26.
Among the important changes expected to take place, spectators are most excited about the revision of its tokenomics by introducing a burning mechanism to keep supply and demand in check.
Despite this upcoming revision, the community could not keep the Cosmos price up, with ATOM down 0.29% to $14.35 at press time.
The token has descended 2.49% in the past 7 days due to the weakness in the overall crypto market. Trading volume has followed the downtrend, now at $646 million – a 15.80% decrease from yesterday.
Analysts expect no swing highs consolidating for Cosmos (ATOM)’s price in the near term. For those looking for a new coin to put their holdings in, think of The Hideaways (HDWY).
Compared to ATOM’s -79% year-on-year ROI, The Hideaways (HDWY) managed to record a 100% surge in less than a month.
Polygon (MATIC)’s Technical Indicators are Bearish
Polygon (MATIC) is another token that investors have been ditching lately. Price is down 8.55% in the last 30 days. Its performance in the daily charts is not any better. At press time, MATIC has declined 0.43% to $0.74 and sent its 7-day losses to 7.62%.
Looking at Polygon (MATIC)’s technical indicators, there is a clear sign of the dominance of bears. The 20-day EMA has crossed below the 50-day EMA on September 19 which triggered a massive selloff. RSI declined all the way to 35.0 on September 21.
Polygon (MATIC) is forecasted to follow the continuation of its bearish trend after the red flag pattern showed on the daily charts.
The Hideaways confirms price to double this week
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Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
