Cosmos Hub's ATOM Plummets to $1.25 Amid Ongoing Downtrend

The Cosmos Hub crypto asset, ATOM, is experiencing a downtrend as of August 2, 2026. Trading at $1.25 against USDT, ATOM's daily trend points firmly downward. The technical analysis suggests that the higher timeframes are broken, yet short-term price action has paused.

The daily chart structure is unambiguously bearish - ATOM trades below every major EMA in a fully stacked descending order. This confirms a clean downtrend signature that leaves little room for bullish interpretation. Price sits below the EMA20 at $1.38, the EMA50 at $1.53, and the EMA200 at $1.93.

The RSI14 on the daily sits at 24.16, deep into oversold territory. However, momentum being stretched does not mean it is about to reverse. The daily MACD confirms sellers still have the upper hand: the MACD line remains below the signal line while the histogram is negative.