ETH And ATOM Once Again In The Red After Short Lived Relief By CoinEdition

• There is little hope for a recovery.
• At the time of writing, ETH was trading at $1,293.55.
• Some of the cryptos that saw price increases yesterday are once again in the red.

After the brief panic in the crypto markets over the last few days that was caused by higher than expected inflation numbers, there is a brief recovery across a few digital assets. Unfortunately, the same can not be said for Cardano (ADA).

Cardano / US 1D (Source: CoinMarketCap)

Over the last few days, ADA was one of the biggest losers in the market. To make things a tad worse is the fact that the total market cap also saw huge losses, which causes even more stress on a crypto that has been on a downward trend throughout the year already. This is not a good sign for any potential recovery for ADA.

ADA is currently trading at $0.367 after a more than 4% drop in price over the last day, according to CoinMarketCap.

/ Tether US 1D (Source: CoinMarketCap)

Ethereum (ETH) is one of the cryptos that experienced less pressure over the last few days. Yesterday, the altcoin was able to jump by 9% after a huge Alameda transaction. It is, however, important to keep in mind that Amameda was not solely responsible for the ETH price spike.

At the time of writing, ETH was trading at $1,293.55 after a more than 2% drop in price over the last day.

Cosmos / Tether US 1D (Source: CoinMarketCap)

Another altcoin that was showing some progress in the market was Cosmos (ATOM), as it saw an increase in price of more than 6%. Unfortunately, that progress of the past as the crypto is currently down 3,72% over the last day. The crypto is also still down more than 12% over the last week.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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