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Biggest Movers: ATOM Drops for Fourth Straight Session, Hitting 1-Week Low

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Cosmos traded lower for a fourth straight session on Monday as prices approached a weekly low. On Monday, Decentraland also traded close to a weekly low as the global cryptocurrency market fell over 3% at the time of writing.

Space (ATOM)

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Space (ATOM) has been declining for the fourth consecutive session as the token approaches a weekly low.

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After a high of $10.25 during yesterday’s session, ATOM/USD fell to an intraday low of $9.27 earlier today.

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The movement is like ATOM approached its support point at $9.00, less than a week after approaching a breakout of the resistance at $11.25.

ATOM/USD – daily chart

Looking at the chart, the recent decline was due to the sharp drop in the Relative Strength Index (RSI), which rose from 67 on Friday to 50 today.

If the 14-day RSI falls below the 50 level, which is also a support point, this could see ATOM dropping below its low of $9.00.

Overall, the token prices fell only 3.62% from the same point last week, despite this extended streak of decline.

Decentraland (MANA)

Like ATOMdetraland (MANA) traded near a weekly low during today’s session.

The 34th largest cryptocurrency in the world today fell to an intraday low of $0.9051, the lowest level since last Thursday when prices fell to $0.8797.

This drop in the decentralized market comes after a failed attempt to break above the resistance at $1.02 on Sunday.

MANA/USD – daily chart

Despite maintaining the ceiling, MANA reached a monthly high, but now the bears have pushed the token away from this point.

At the time of writing, MANA/USD is currently trading at $0.9128, slightly above the $0.9030 support level.

The 14-day RSI is currently at 50, which will need to be broken if the bears are to continue this recent downtrend.

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Do you expect Detraland to rise above $1.00 this week? Let us know your thoughts in the comments.

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