Cosmos traded lower for the fourth consecutive session on Monday as prices approached one-week lows.Decentraland also approached a one-week low on Monday and at the time of writing the global crypto currency markets were down more than 3%.
Cosmos (ATOM
Cosmos (ATOM) fell for the fourth consecutive session as the token moved toward a one-week low.
Following a high of $10.25 in yesterday’s session,{23 ATOM/USD fell to an intraday low of $9.27 earlier today.
This move comes less than a week afterATOMapproached a breakout of $11.25 resistance and a support point at $9.00.
The chart shows that the recent decline has been accompanied by a dramatic decline in the Relative Strength Index (RSI), moving from 67 on Friday to 50 today.
A drop below 50, which is also a support point for the 14-day RSI, couldatommove below the $9.00 lower bound.
Overall, the token’s price has dropped just 3.62% from the same point last week, despite this extended series of declines.
Decentraland (MANA)
55} like ATOMwas trading near its lows of a week ago in today’s session.
The world’s 34th largest cryptocurrency fell to an intraday low of $0.9051 earlier today, which is its lowest level since last Thursday when the price fell to $0.8797.
This decline in the Decentland follows a failed breakout attempt over the $1.02 resistance on Sunday.
MANA hit a one-month high while holding its ceiling, but the bears pushed the token back from this point.
At the time of writing, MANA/USD is currently trading at $0.9128, just above the $0.9030 support level.
The 14-day RSI is currently at the bottom of 50 and should be broken if the bears extend this recent downtrend.
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