Cosmos (ATOM) Archives

8th March 2024

INJ Price Soars 13% As Injective Unveils ‘inEVM,’ Ethereum And Solana Integration Expected

In a recent announcement, Layer 2 (L2) protocol Injective (INJ) has reached a major milestone with the launch of its inEVM Layer 2 rollup solution on the mainnet. This technology introduces an Ethereum Virtual Machine (EVM) environment to the Injective ecosystem, opening up new prospects for developers and blockchain interoperability.

By integrating with Ethereum (ETH), Cosmos (ATOM), and Solana (SOL), inEVM establishes a multi-chain ecosystem that combines the advantages of different virtual machine environments.

inEVM For Ethereum, Cosmos, And Solana

According to the March 7 announcement, InEVM, which stands for inEVM Layer 2 rollup solution, allows developers to build applications using the Ethereum programming language Solidity within Injective’s platform.

This technology connects different blockchain networks by achieving composability across Cosmos and Solana. InEVM leverages Caldera as the rollup provider, Hyperlane as the messaging layer, LayerZero for data and asset transfer, Celestia as the Data Availability (DA) layer, and Pyth as the Oracle provider.

These collaborations were reportedly designed to ensure a “secure and robust” environment for developers to deploy their projects.

Furthermore, by incorporating inEVM, Injective will enable Ethereum developers to onboard onto its platform while retaining compatibility with the broader blockchain space.

As announced, developers can now take advantage of Injective’s benefits, including the protocol’s transaction speeds, near-zero fees, and access to the Inter-Blockchain Communication (IBC) network.

The protocol also claims that InEVM will serve as a sandbox for developers to become familiar with the broader Injective ecosystem, providing a bridge between Ethereum’s EVM world and Injective’s WebAssembly (WASM) backbone.

TimeSwap And Thetanauts Make Waves In Injective Platform

Another key feature of Injective’s inEVM is its stated integration with Caldera, Hyperlane, LayerZero, Celestia, and Pyth, ensuring compatibility with existing smart contract standards, infrastructure, and oracles.

This integration aims to facilitate interoperability and collaboration across virtual machine environments, paving the way for a “unified blockchain ecosystem.”

The release states that developers will also benefit from the ability to create synergies and leverage the strengths of Ethereum, Cosmos, and Solana while maintaining true composability and interoperability.

Lastly, the protocol has announced that several projects have already adopted inEVM and deployed on the Injective platform. Notable among them is the TimeSwap lending protocol, which has raised significant funding of over $200 million from investors, including Polychain Capital, Delphi Digital, and Bain Capital Crypto. In addition, Thetanauts, an on-chain options protocol, has also chosen to build on the inEVM.

Injective

Currently, Injective’s native token INJ has seen a notable uptick in price after stagnating and dropping 3% over the past seven days. Currently, INJ is trading at $43.20, up over 13% on announcing the launch of Injective’s inEVM.

This marks the continuation of the token’s upward trend registered over the rest of the time frames. The token recorded a tremendous surge of over 1240% year-to-date, 37% in the past 30 days, and 23% in the past fourteen days, which led the token to reach its current all-time high (ATH) of $46 on March 2nd.

Featured image from Shutterstock, chart from TradingView.com

26th December 2023

Looking Deeper: Can ATOM Sustain Its 13% Surge Beyond The Network Buzz?

ATOM has ascended to the summit of network activity within the inter-Blockchain ecosystem. However, upon closer inspection, the narrative surrounding Cosmos unveils a more nuanced story. Despite the accolade of being at the forefront of blockchain network activity, a discerning analysis reveals a dip in actual user engagement and transaction volumes.

Surprisingly, against the backdrop of these statistics, Cosmos has witnessed a remarkable 13% surge in its token price over the past week, prompting a deeper inquiry into the factors propelling its momentum.

Digging Deeper: Beyond Buzzwords

Although Cosmos received accolades for its network activity, the narrative quickly unravels when scrutinizing actual user statistics. Daily Active Addresses and Transactions for ATOM, tracked by Artemis, experienced a noticeable decline, painting a different picture than the headline numbers suggest. Similarly, fees and revenue for the Cosmos network dipped during this period, further dampening the celebratory mood.

Despite the declining activity metrics, ATOM’s price defied the trend, showcasing a 6% gain over the last 24 hours, data from Coingecko shows. This disconnect highlights the influence of factors beyond user engagement, including the broader market bullishness and potentially, speculation fueled by a spike in ATOM’s MVRV ratio, a profitability indicator.

The Power Of Partnerships And Policy: Catalysts For Growth

While the overall market sentiment played a role, key developments within the Cosmos ecosystem also contributed to ATOM’s ascent. The recent merger between Osmosis and UX Chain solidified their foothold within the Cosmos landscape, bolstering cross-chain DeFi capabilities.

Additionally, the Cosmos Hub’s governance decision to reduce ATOM’s inflation rate from 14% to 10% addressed concerns surrounding stability and security, potentially attracting further investment.

Despite the recent rally, ATOM’s technical indicators paint a somewhat cautious picture. The daily chart presents a bearish MACD signal, and the Chaikin Money Flow’s sideways movement suggests a potential extension of the current price consolidation.

The Road Ahead: A Balancing Act

Cosmos faces the challenge of bridging the gap between headline-grabbing network activity metrics and actual user engagement. The recent decline in transactions and addresses raises questions about long-term sustainability. Nevertheless, the ecosystem’s strategic partnerships, focus on DeFi integration, and proactive governance decisions provide promising counterpoints.

As the new year approaches, ATOM’s trajectory will likely hinge on its ability to address user-centric metrics while leveraging its strategic alliances and proactive governance. Whether it can translate its headline dominance into sustained user engagement and price growth remains to be seen.

As Cosmos (ATOM) revels in its recent ascent to the peak of network activity within the inter-blockchain ecosystem, the question looms: can this momentum be sustained beyond the current buzz? The enigma surrounding Cosmos deepens as its 13% surge in value defies conventional metrics, prompting a cautious examination of the factors at play.

Featured image from Shutterstock

22nd December 2023

Cosmos (ATOM) Wyckoff Analysis (May 2022 – Dec 2023)

Wyckoff Analysis (WA) aims to understand why prices of stocks and other market items move due to supply and demand dynamics. It typically is applied to any freely traded market where larger or institutional traders operate (commodities, bonds, currencies, etc.). In this article we will apply WA to the cryptocurrency Cosmos ($ATOM) to make a forecast for approximate future events.

TradingView Chart

Link to the raw image: https://www.tradingview.com/x/r8asKWOI

Cosmos $ATOM is currently in Phase D of a Wyckoff Accumulation Schematic #1. Note the volume spike near where I placed the SC and Spring. In Wyckoff Analysis these typically must align even if the overall form isn’t perfect. The only slight anomaly is that the ST dips sharply below the SC breaking the ICE (not labeled). There are Advanced Schematics that you can find online that accommodate many of these anomalous formations.

Phase D is where demand greatly overcomes supply leading the rallies on higher (or noticeably increasing) volume. When an LPS occurs that is typically a favorable (even optimal) place for a long position. It recently finished a Reaccumulation, to which it’s rallying sharply. Below are the typical schematics for both Wyckoff Accumulation Schematic #1 and a Reaccumulation for reference.

Cosmos Price Targets

The basic target (per the schematic) is the top of the trading range. In this case it’s at $18, but $15 is a preliminary target it must concretely clear first. Doing some more work using the Horizontal Count method with PnF charts yields different results. My settings are currently a $0.25 box size and a three box reversal on a High-Low lookback.

When using the Horizontal Count method Extended Congestions need to be accounted for differently. The main thing is finding the relevant column in and out to create the Congestion Box. In our case that’s from 13 to 20 December 2023 spanning 7 bars. Since this is a Reaccumulation “breakout” we will need to add the value from the formula the Horizontal Count uses.

7 x $0.25 x 3 = $5.25

The relevant low to add this to is $10.25 so the PnF target is $15.5.

Glossary

All quotes are from the first link in Supplemental Reading.

Preliminary Support (PS) – “where substantial buying begins to provide pronounced support after a prolonged down-move”

Selling Climax (SC) – “the point at which widening spread and selling pressure usually climaxes and heavy or panicky selling by the public is being absorbed by larger professional interests at or near a bottom”

Automatic Rally (AR) – “occurs because intense selling pressure has greatly diminished”

Secondary Test (ST) – when “price revisits the area of the SC to test the supply/demand balance at these levels”

Spring – “allow the stock’s dominant players to make a definitive test of available supply before a markup campaign unfolds”

Test – where larger traders “test the market for supply throughout a TR”

Sign of Strength (SoS) – “a price advance on increasing spread and relatively higher volume”

Last Point of Support (LPS) – “a pullback to support that was formerly resistance, on diminished spread and volume”

Back Up (BU) – “a common structural element preceding a more substantial price mark-up, and can take on a variety of forms, including a simple pullback or a new TR at a higher level”

Supplemental Reading

“The Wyckoff Method: A Tutorial” by Bogomazov & Lipsett

“Reaccumulation Review” by Bruce Fraser (2018)

“Jumping the Creek: A Review” by Bruce Fraser (2018)

“Distribution Review” by Bruce Fraser (2018)

“Introduction to Point & Figure Charts” from StockCharts

“P&F Price Objectives: Horizontal Counts” from StockCharts

“The Wyckoff Methodology in Depth” by Rubén Villahermosa (2019)

“Wyckoff 2.0: Structures, Volume Profile and Order Flow” by Rubén Villahermosa (2021)

21st December 2023

Cosmos (ATOM) Elliott Wave Summary (2019 – 2023)

Cosmos ($ATOM) is the coin that powers the entire Cosmos ecosystem. It consists of a variety of projects from different spheres such as finance, decentralized exchanges (DEX), and cloud computing. The earliest price data I can find for $ATOM is from Kraken, starting in April 2019. Using this price data, the remainder of the article represents my best efforts to apply Elliott Wave Theory (EWT) to isolate its placement in market structures. I will assume that you have some knowledge of EWT to understand the terms, but I have also included a small glossary at the bottom for reference.

EWT Summary

TradingView Chart

A link to the raw image since it might be hard to see all the details: https://www.tradingview.com/x/jIKwljmV.

Cycle Wave 0 – Mar 2020 – $1.1151
Primary Wave 1 – $2.4794
Primary Wave 2 – $1.8482 (38.2% LFR)
Primary Wave 3 – $32.2433 (3.618 LFE)
Primary Wave 4 – $7.872 (50% LFR)
Primary Wave 5 – $44.7383 (1.236 LFE)
Cycle Wave 1 – Sep 2021 – $44.7383

Primary Wave A – $20.2221 (Contracting, Leading Diagonal)
Primary Wave B – $33.2641 (Contracting Triangle)
Primary Wave C – $5.5409 (Impulse)

Cycle Wave 2 – Jun 2022 – $5.5409 (50% LFR)

Primary Wave 1 – ONGOING
Primary Wave 2 – TBA
Primary Wave 3 – TBA
Primary Wave 4 – TBA
Primary Wave 5 – TBA

Cycle Wave 3 – ONGOING

Exploring Further

EWT uses ratios to create price targets. The main target being the 1.618 LFE, however there are the minimum, lower, and much higher LFE’s to watch out for. For $ATOM we first need to find the beta multiple to scale the targets off of. This is accomplished by taking Wave 1 and dividing it by Wave 0. In this case for the Cycle Wave Degree it’s approximately 40.12. Then we raise this multiple to various numbers defined by EWT to create a table of targets. In order below are the LFE Price Targets:

0.618 – $54.26

1 – $222.3

1.236 – $531.3

1.618 – $2,176.84

Therefore, if we expect $ATOM to be a Diagonal then $54.26 – $222.3 is the preferred price box.

If we are looking for the typical price box then it’s: $531.3 – $2,176.84.

However, due to the nature of the next estimated bull run only the Intermediate Degree Wave 3 of the Cycle Wave 3 should play out. The next bull run is estimated by many traders and institutions to peak around late 2024 to early 2026. Benner Cycle Theory also puts a market peak around 2026. You can see the full layout for Benner’s Cycle Theory here. As such, the Intermediate Wave 1 and 2 are: $17.2656 and $6.17. The beta multiple for the Intermediate Degree is approximately 3.116. Then as we did for the Cycle Wave Degree the relevant typical price box is: $25.14 – $38.81. The higher price boxes are all above the ATH for $ATOM. The current price action for $ATOM is overwhelmingly bullish, so the higher price boxes are definitely a possibility.

TradingView Chart

A link to the raw image since it might be hard to see all the details: https://www.tradingview.com/x/FQhUSWST.

Conclusion

Given the next bull run peak for crypto is likely late 2024 to early 2026 the relevant LFEs to use for $ATOM are at the Intermediate Wave Degree . The typical price targets for the Intermediate Degree Wave 3 are $25.14 – $38.81. The price as I write is $11.3 so the next peak is a rough 2 to 3.5x from here. If the Wave 3 is heavily extended and possibly goes to the 2.618 or 3.618 LFE then a new ATH is possible. That would mean a minimum of a 4x from here to the next peak. The Primary Wave 1 of Cycle Wave 3 is likely due in late 2026 to 2030 using Fibonacci Time Ratios.

Glossary

Elliott Wave Theory (EWT)

“A theory in technical analysis that attributes wave-like price patterns, identified at various scales, to trader psychology and investor sentiment.”

Source: “Elliott Wave Theory: What It Is and How to Use It” by James Chen (2023)

Logarithmic Fibonacci Retracement (LFR)

A measured correction at certain Fibonacci ratios on a semi-log scale.

Logarithmic Fibonacci Extensions (LFE)

A measured rally at certain Fibonacci ratios on a semi-log scale.

Supplemental Reading

“Elliott Wave Principle – Key To Market Behavior” by Frost & Prechter (2022)

“Visual Guide to Elliott Wave Trading” by Gorman & Kennedy (2013)

“How to Calculate Logarithmic Retracements and Extensions” by C. D. Chester (2023)

27th November 2023

Cosmos Co-Founder’s Controversial Proposal Triggers 11% Plunge In ATOM

In a bold move, Cosmos co-founder Jae Kwon has called for a significant shift in the blockchain’s direction following the controversial passing of NWV #848. This proposal was approved by the community’s voting mechanism, earning around 40% of the votes, and it was aimed at changing the blockchain’s native token inflation rate.

Kwon, expressing his dissent, is now advocating for a coordinated “split” in the Cosmos ecosystem, a proposal that could reshape the blockchain’s future. This development comes in response to what Kwon perceives as “deviating from the network’s core principles.”

“AtomOne” Split, Cosmos Co-Founder Urges Community Engagement

Kwon’s proposal, termed “AtomOne,” is not just a divergence but an exodus from the current state of Cosmos, encouraging community members who voted ‘No’ to join this new venture. The plan is still in its infancy and laid out in a GitHub repository, where Kwon invites community ideas and participation in shaping this new direction.

He emphasizes a collaborative approach, urging the community to discuss and contribute to the formation of AtomOne.

The essence of AtomOne lies in integrating $ATOM with $ATMO/$ATOM1, aiming to prevent a “complete collapse of ATOM by mass selling.” Kwon suggests that instead of abandoning ATOM altogether, there should be a way for it to coexist with the new fork.

Cosmos Community Faces a Crossroads: Exodus And Innovation

Kwon’s vision for AtomOne involves forking the current “cosmoshub4” but with its development path and teams, aiming for a more decentralized structure than the current Gaia. This new entity is open to all who opposed the recent vote, signaling a departure from the traditional paths of blockchain governance.

Kwon highlights the power of the minority in blockchain ecosystems and the ability to self-organize and create antifragile structures.

His message is clear: those who do not align with sound logic are destined to fail, and the future belongs to those who dare to exodus and build a better civilization. Kwon assures that this move isn’t about abandoning the original Cosmos hub but saving it and redefining its role.

People are completely confused about the nature of blockchains what power the NO/NWV voters have altogether inside and outside the hub. The reality is that we exist, our principles and goals are aligned because they come from logic and we are about to demonstrate antifragility. The reality is that you cannot take control of a chain even with over 50% consensus, even 67%, because the minority can always self-organize even without your help. And the reality is that those who don’t make decisions based on sound logic always end up failing in the end.

As the community gears up for this potential split, Kwon’s call for a departure to AtomOne reflects a pivotal moment in Cosmos’ history and a testament to blockchain governance’s dynamic and evolving nature. A conversation that will continue for “generations.”

As a result of the split proposal, ATOM has seen a spike in volatility, recording an 11% loss over the past few days. However, speculation is that the split will involve an airdrop poised to attract positive attention for the token.

Cosmos ATOM ATOMUSDT ATOM price

Cover image from Unsplash, chart from Tradingview

29th September 2023

Cosmos Has A Grand Plan For 2024: Will It Crush Ethereum?

Cosmos, a blockchain where developers can create custom chains that interconnect and communicate, has revealed its roadmap for 2024. According to an X post on September 25, the roadmap centers on increasing modularity, improving the developer experience, addressing “technical debt,” and driving user adoption. With this, Cosmos developers plan to take on the more established platform, Ethereum.

At the heart of Cosmos are features such as Tendermint, a consensus system that anchors blockchains such as the BNB Chain; Cosmos SDK, a software developer kit that allows coders to build fluid and custom blockchains; and the Inter-Blockchain Communication (IBC), from where all deployed custom Cosmos chains can connect and communicate, effectively driving interoperability.

Cosmos Wants To Repay The Technical Debt And Make Its SDK More Modular

In 2024, reading from the roadmap, Cosmos aims to solidify its position by attracting developers from competing platforms as they repay the “technical debt.” In app development, technical debt leads to extra work and can be caused by resource constraints and shifting code requirements.

Cosmos will expand its developer base to repay this debt and make the Cosmos SDK more modular. Although the team claims the SDK has been modular in theory, swapping and modifications have made practical implementation more challenging.

Therefore, to tackle these challenges, the work already done on Cosmos SDK will continue into 2024. Then, the goal will be to make the kit more modular at the core. This will make it more adaptable and flexible, meeting developer requirements.

Ethereum Is Still Dominant

It is yet to be seen whether this will be achievable in 2024 and whether Cosmos will grow as dominant as Ethereum. Currently, Ethereum is the leading smart contract platform, based on its market cap and the total value locked (TVL) in decentralized finance (DeFi). Additionally, its ecosystem of layer-2s has been increasing, with more protocols and blockchains connecting to Ethereum to take advantage of the network’s pioneering activity.

DeFiLlama data on September 29 shows that all the top 10 bridges are connected to Ethereum. To illustrate, Stargate–by Cosmos, is connected to Ethereum and multiple blockchains, including Avalanche and the BNB Chain.

DeFi bridge volumes| Source: DeFiLlama

Besides Stargate, other bridges are Ethereum Virtual Machine (EVM) compatible and predominantly connect to Ethereum layer-2s and Polygon, the sidechain. For example, the zkSync Era, Base, Arbitrum, Polygon, and the Optimism Gateway, are plugged into Ethereum. Cumulatively, these bridges move millions of dollars worth of tokens to and from Ethereum at any instance.

24th May 2023

Cosmos (ATOM) Bears Dominate As Bulls Struggle To Drive Price

Cosmos (ATOM) experienced a short bullish momentum on May 10, 2023. The asset saw an increase of 10.89% taking its price to a high of $11.2.

However, the bears regained control of the market on May 13 and sent the coin to its current price of $10.40, representing a decrease of 1.12%. From the beginning of May 2023 till date, ATOM has witnessed a price decline of 11.2%, based on its current price.

Bears In Control of Comos (ATOM) Price

The ATOM/USDT daily chart suggests that the market sentiment for Cosmos (ATOM) is predominantly bearish. It also shows a downward price movement dominating and hindering any potential bullish momentum.

The price of ATOM was influenced negatively by the recent chaotic legal battle with its former growth and strategy chief, Grace Yu.

The news raised negative sentiments among investors and market participants toward Cosmos (ATOM). The Validators even urged Cosmos founder Kwon Jae to close the case against Grace Yu. And this action indicates a level of concern within the Cosmos community.

Negative sentiment towards an asset can influence investor behavior, decreasing demand for ATOM and potentially contributing to downward pressure on its price.

An example of this is that ATOM has been trending down since April 17, suggesting a bearish sentiment. The trendline now serves as a reference for identifying potential resistance levels since the asset has tested it severally.

Cosmos (ATOM) Bears Dominate As Bulls Struggle To Drive Price

Cosmos (ATOM) trades between $10.160 and $11.301 support and resistance levels. ATOM breaking through the $10.160 primary support level will confirm the bearish momentum. Afterward, the bears might target the next support level at $8.441.

However, the bulls are trying hard to push the price to the primary resistance level of $11.301 but couldn’t due to the high bearish momentum.

ATOM Technical Analysis

ATOM is trading below its 200-Day and 50-Day Simple Moving Averages (SMA), suggesting a bearish market sentiment.

This level indicates that ATOMs’ recent and long-term price averages are declining, potentially indicating a negative trend and a higher likelihood of further downward price movement.

The Moving Average Convergence/Divergence (MACD) confirms the bearish market sentiment as the asset trades the signal line. It suggests that the short-term moving average moves lower than the longer-term moving average, pointing toward downward momentum.

Meanwhile, the Relative Strength Index (RSI), with a reading of 43.29, suggests a neutral market sentiment.

The indicator shows the price is neither overbought nor oversold. For now, the ATOM price outlook is bearish. But crypto assets are volatile and could deviate from predicted price trends without warnings.

Featured image from Pixabay and chart from Tradingview.com

17th May 2023

Cosmos (ATOM) Price Trends Upwards: A Potential Breakout Or Impending Correction?

After experiencing a bearish trend on April 17, 2023, that dropped the asset to a low of $10.12 from $12.88, Cosmos (ATOM) has managed to recover slightly.

Between February 8 and May 17, ATOM witnessed a significant decline of 32.89%, reaching a low point of $10.175 on May 9. The current month has, however, brought a surge in demand for Cosmos (ATOM), leading to a remarkable price performance.

What’s Ahead For Cosmos (ATOM)?

According to data, ATOM experienced a substantial price decline, reaching $10.73, a 0.95% decrease within the last 24-hour trading period.

Notably, the 24-hour trading volume is up by 9.04%, rising to $85 million, indicating that the market activities around ATOM are increasing. More buyers and sellers are actively participating in trading ATOM.

Also, an increase of more than 9% signifies potential price volatility, which might influence the price of ATOM. But the current market sentiment of ATOM is bearish as its Fear and Greed Index shows 28, fear.

This indicates a potential downtrend as investors and traders fear entering the market. This may also lead to high sell pressure from the investors. Based on the Fear & Greed Index reading, the market may likely experience some price correction if the bears maintain this momentum in the coming days.

Cosmos (ATOM) Technical Analysis

The 200-day and 50-day Simple Moving Averages (SMAs) currently exceed the ATOM/USDT trading pair price. This indicates that the market is on a bearish trend in longer and shorter timeframes.

Also, this means that the selling momentum is stronger than the buying. However, if the bulls increase the buying pressure, some price changes might occur in a few days.

The Relative Strength Index shows 44.91, meaning there’s market indecision between buyers and sellers. The market in a neutral zone indicates low pressure from buyers and sellers.

Cosmos (ATOM) Price Trends Upwards: A Potential Breakout or Impending Correction?

However, the MACD is above the signal line depicting a potential bullish momentum for ATOM. Also, the histogram is currently above the zero level, validating the bullish sentiment.

Latest Development To Spike Network Utility

The ecosystem recently announced the adoption of its first Cosmos native shared security model by a widely known Permissionless CosmWasm platform called Neutron.

The Replicated Security brings a new era of utility to the network. It will also help Cosmos Hub to offer security to new projects launching as Hub-secured consumer chains.

The consumer chain will share its revenue with the Hub in exchange, and will also be shared with ATOM validators.

Neutron being the first platform to pioneer Cosmos Hub Replicated security, will enjoy instant access to the multi-billion dollar economic security of the Hub.

This recent development could attract more investors, traders, and institutions into the network, driving the demand for ATOM significantly over time.

featured image from Pixabay and chart from Tradingview

12th May 2023

Cosmos (ATOM) Shows Price Recovery In Response To New Update Reveal

Over the past few days, Cosmos Hub (ATOM) has demonstrated remarkable strength and resilience in its price fluctuations, despite significant downturns across the broader cryptocurrency markets due to shifts in trader sentiment. For three consecutive days, ATOM bulls have managed to bounce back and maintain the native token’s price, despite Bitcoin’s bearish momentum that has caused most altcoins to plummet.

Cosmos’ (ATOM) renewed strength and price stamina in the crypto markets may be linked to the fresh updates announced by the team behind the project.

Adoption Grows For Cosmos Replicated Security Model

In an exciting update, the Cosmos team announced yesterday that its first Replicated Security Model went live and has gained adoption by a top smart contract and consumer chain platform.

1/ The first #Cosmos native shared security model just got adoption @Neutron_org is the first Consumer Chain to leverage @cosmoshub Replicated Security.

Replicated Security brings a new era of utility for #ATOM

Appchains can now launch with the economic security of #ATOM pic.twitter.com/sMp6mXhjPC

— Cosmos – Internet of Blockchains (@cosmos) May 11, 2023

Before this, the team had made it known in February that the launch of the Replicated security model was close and presented an opportunity for delegators and validators to earn multiple tokens from upcoming consumer chains by staking the native token ATOM.

The Cosmos Replicated security model, a new and secure innovation, provides security to smart contracts and consumer chain platforms. The team announced and introduced Neutron as the first ever consumer chain and smart contracts platform to adopt and leverage its new and innovative Replicated security model.

In leveraging Cosmos’ Replicated security model, smart contracts and consumer chains platforms like Neutron no longer worry about platform security but can now focus on other application areas and services, according to the official announcement.

As seen in an official tweet where the team made the announcement, it was also stated that the Replicated security model brings forth a new dawn and era of utility as dApps can now launch with ATOM’s native security.

This fundamental news by the Cosmos team could be the backing behind ATOM’s recent show of strength and price resilience despite the bearish market outlook observed in several cryptocurrencies.

Daily Chart Analysis For ATOM

Cosmos (ATOM) trades at $11.04, a 2.02% increase from its 24-hour low at $10.55, as seen from Coingecko data trading reports. The market capitalization of ATOM is also seen to increase by 1.10%.

On the daily timeframe, bulls pushed ATOM’s price above the key resistance at $10.90 and moved further to an $11.27 high before retracing.

The previous resistance turned support level on the daily price chart is a good area for bulls to build momentum and push ATOM’s price to the upside. Although the 50 and 200 Exponential Moving Averages (EMA) are an immediate resistance level, bulls must contend with them to confirm further upside movements.

To the downside, a break above the newfound support at $10.90 will signal further bearish movements for the asset.

Cosmos

29th April 2023

Cosmos (ATOM) Price Displays Intense Momentum – What’s Driving The Rally?

Cosmos (ATOM) demand has risen these past few days, resulting in a significant performance. According to CoinMarketCap data ATOM price has fallen to $11.69 after gaining momentum.

The current market cap of ATOM is $3.3 billion, with a 24-hour trading volume of $100 million. However, the trading volume is still down by 31.18%, indicating reduced network activity.

Reason Behind The Surge In Cosmos?

Cosmos is a constantly growing network of interconnected blockchains created with developer-friendly application components.

Inter-Blockchain Communication (IBC) protocol is the technology that connects these apps. The SDK platform Cosmos offers allows programmers to produce top-notch decentralized apps (dApps).

Other developers have also constructed applications on top of it, such as MM Finance and VVS Finance. Cosmo’s (ATOM) recent price surge could be attributed to its influx of developers topping that of Ethereum.

The other reason for the ATOM price increase might be the announcement from dYdX that it is building an independent blockchain on the Cosmos ecosystem instead of Ethereum.

Also, Bitcoin price soared above $29,000, pushing the market cap of all cryptocurrencies to surpass $1 trillion. Many crypto assets, including ATOM, recorded price growth due to correlation to BTC.

ATOM Price Action

Below is the technical analysis of ATOM price action on the 4-hour trading timeframe. And also the possible resistance and support zones.

Cosmos has broken through the short-term resistance level of $11.69 and is currently trading between $10.571 and $15.484 support and resistance levels. ATOM must break through the $15.484 primary resistance level to confirm the bullish momentum.

Cosmos (ATOM) Price Displays An Intense Momentum, What's Driving The Rally?

However, the bears are trying hard to break the $10.571 support level but couldn’t due to the high bullish momentum. If the bull’s strength is not strong enough to push ahead, the bears might take over the trend and cause a trend reversal.

What Do The Technical Aspects Suggest?

ATOM’s 50-Day SMA’s change in direction caused the market’s structure to change. If the bullish momentum doesn’t pick up, the trend may change to a potential bearish market.

The 50-Day SMA established a Death Cross by crossing below the 200-Day SMA, indicating a potentially bearish signal and suggesting a selling opportunity.

The Relative Strength Index (RSI) analysis indicator enables traders to determine the momentum and strength of the price movement of an asset within a period.

At the time of analysis, the RSI of ATOM/USDT is at 61.74 above the neutral zone. Therefore, this shows that ADA is neither in the overbought nor oversold zone. However, the buyers are building momentum to take ADA to the overbought zone while the seller pushes it down despite weak momentum.

Featured image from Forkast News and Chart: TradingView

9th January 2023

Cosmos (ATOM) Jumps Over 12% In One Day As Market Recovers

Cosmos traded in a highly volatile crypto market in 2022, but 2023 is showing signs of recovery. CoinMarketCap shows that the global crypto market cap has increased in 24 hours.

The trading volume of cryptocurrencies in the market has also increased within 24 hours. This data proves that there is still much global interest in cryptocurrencies.

According to a poll conducted on Twitter, 53.8 % of participants see the early part of 2023 to be bullish. In contrast, 46.2% predict a bearish market trend for early 2023. However, Twitter user Neon Panda states that these predictions are speculative since crypto is complicated.

Cosmos (ATOM), ranked number 20 on the crypto market list, has shown signs of a recovery in its price today, January 9. Cosmos has benefitted from this improved market outlook as its native token ATOM is also in the green today.

The price change in 24 hours is $1.24, a 12.34% increase. This increment reflects in the trading volume of the asset, which is up by 265.39%

How Long Will Cosmos (ATOM) Ride The Bullish Trend?

ATOM is currently on a bullish trend at the start of the year. The formation of longer green candles shows that the bulls have the upper hand in the market. The asset has broken out of the sideways trend and has continued to rise on the chart.

Its support level of $8.441 held as the price increased. Atom will face resistance at $14.458 and $15.817. However, since these levels are below its all-time high of $44.70, it remains a possibility.

The asset is trading above its 50-day and 200-day Simple Moving Averages (SMA). It implies that both the short-term and long-term sentiments are currently bullish. Also, the Relative Strength Index (RSI) is giving off similar signals with the reading at 75.87, which is in the overbought region.

The Moving Average Convergence Divergence (MACD) is also bullish. The MACD is above its signal line, which is a buy signal. It implies that ATOM might continue its price increase in the coming weeks without negative occurrences.

However, note that if a digital asset falls by 50%, it would need to recover by 100% to return to its previous price. This feat might be complex to accomplish for altcoins. Also, investors should consider that altcoins are more volatile than large-cap cryptocurrencies like bitcoin.

What Is Driving Cosmos (ATOM)’ Resurgence?

Although the crypto market has shown signs of recovery, it is still largely volatile. Several factors are responsible for a price change of a digital asset in the crypto market.

Cosmos (ATOM) is enjoying a price resurgence due to increased trading activity, according to data from CoinGecko. The Cosmos Network seeks to serve as a bridge connecting other blockchains to communicate seamlessly.

Also, the provision of regular upgrades on the network, such as Web3 solutions, has helped its popularity. On the Cosmos network, blog users receive regular updates about events.

Cosmos has a community with a rich following where information and communication remain a priority. Developers can also communicate and exchange ideas in the community.

The network also supports up to 266 modern apps and services. With a thriving ecosystem and everyday use case, it is easy to see why the token is enjoying a resurgence.

23rd November 2022

Cosmos (ATOM) Rallies With Over 10% Gain As Indicator Shows Not In Safe Zone

ATOM’s price shows strength as price bounces off from a weekly low of $8.5 giving bulls some relief.
ATOM’s price continues to look bearish as more sentiment for the market lingers, with things looking uncertain for most traders and investors.
ATOM’s price rallies high on the daily timeframe as the price moves toward the 50 Exponential Moving Averages (EMA) price, looking less likely to break higher.

The price action displayed by Cosmos (ATOM) recently hasn’t been motivating after prices declined from a region of $27 to a weekly low of $8.5. With many looking for a major dump in Bitcoin (BTC) price, the price of Bitcoin (BTC) bounced from $15,500 as price rallied to a high of $16,500, leaving bears on the sidelines as the price of Comos (ATOM) gains some relief bounces to hold strong above key support. The price action displayed by Cosmos (ATOM) and many altcoins recently have been problematic as many altcoins battle for survival. The Domino effect of the FTX saga and other huge investors involved has left the market at a standstill as the market is yet to make a major move after previous weeks. (Data from Binance)

Cosmos (ATOM) Price Analysis On The Weekly Chart

Most crypto traders and investors have had a rough few days, with many concerned about where the market is headed after so much turbulence in the crypto space. Many altcoins have struggled to show strength, losing key support in a bid to survive.

The current market uncertainty has caused traders and investors to be hesitant to purchase altcoins, as there is no guarantee that they will rise in value any time soon.

The price of ATOM on the weekly chart has struggled despite the market uncertainty that has affected major crypto projects that have continued to build in this bear market, and more FUD (fear of uncertainty and doubt) persists. ATOM saw its price traded in a region of $17 on the weekly chart, but the price was rejected as ATOM’s price declined to a region of $8.5, bouncing off this region to trade at $9.5 with a small relief from the market.

Weekly resistance for the price of ATOM – $10.

Weekly support for the price of ATOM – $8.5.

Price Analysis Of ATOM On The Daily (1D) Chart

Daily ATOM Price Chart | Source: ATOMUSDT On Tradingview.com

The price of ATOM remains considerably weak in the daily timeframe as the price trades above $8.5 support after the price was rejected from a high of $17.

ATOM’s price trades at $9.8 below its 50 and 200 EMA, acting as resistance for the price of ATOM. The price of $11.5 and $13.8 corresponds to the prices at these levels, acting as resistance.

If the price of ATOM breaks and holds above $11.5, we could see more rallies for the ATOM price to a region of $13; a break below a region of $8.5 would send the price back to a region of $5.

Daily resistance for the ATOM price – $11.5.

Daily support for the ATOM price – $8.5-$6.

Featured Image From zipmex, Charts From Tradingview

17th November 2022

Cosmos (ATOM) Trades Below $13 As Bulls Give Up; Here Are Levels Bulls Will Buy

ATOM’s price loses its demand zone of $13 as the price trades to a low region of $10 and could experience more sell-off.
ATOM’s price continues to look weak after a bearish downtrend with the market’s current state, as things look uncertain for most traders and investors.
ATOM’s price trades below the daily 50 Exponential Moving Average (EMA) as bulls eye levels to buy in.

In the last two days, the crypto market has seen some drastic shift in sentiment, with Cosmos (ATOM) and the price of other altcoins battling for survival after the news that Binance would not be taking over FTX after conducting due diligence. Previous weeks saw the price of Cosmos (ATOM) perform well, rallying from a low of $13 to a high of $15. Most altcoins trend higher as many produced gains of over 200%, with many hoping for more recovery bounce. Still, these expectations were cut short by the uncertainty surrounding the crypto market, leading to much fear about where the market is headed. (Data from Binance)

Cosmos (ATOM) Price Analysis On The Weekly Chart

The past few days have been filled with so much turbulence in the crypto space as many altcoins have struggled to show strength after losing their key support holding off price decline.

The current uncertainty surrounding the market has resulted in reluctance on the part of traders and investors to make altcoin purchases, as there is no assurance if they would be heading up any time soon.

The price of ATOM, despite showing some great strength in recent weeks, ATOM has been left hanging in the air as the current state of the market has led to the price dropping to its weekly low of $10 after a long while.

The price of ATOM saw its price decline to a weekly low of $9.5 before bouncing off this region, showing some great strength to a region of $10 as the price aims to break higher.

Weekly resistance for the price of ATOM – $11.5.

Weekly support for the price of ATOM – $6.5.

Price Analysis Of ATOM On The Daily (1D) Chart

Daily ATOM Price Chart | Source: ATOMUSDT On Tradingview.com

The price of ATOM remains weak in the daily timeframe as the price trades below the key support region of $11.5, with bulls eyeing lower regions to buy in on the price of ATOM.

The region of $8.5-$5.5 has been a key demand zone for the price of ATOM on both weekly and daily timeframes, considering how strong this project has been with good community backing.

Daily resistance for the ATOM price – $12.

Daily support for the ATOM price – $8-$5.

Featured Image From zipmex, Charts From Tradingview

17th November 2022

Cosmos (ATOM) Trades Below $13 As Bulls Give Up; Here Are Levels Bulls Will Buy

ATOM’s price loses its demand zone of $13 as the price trades to a low region of $10 and could experience more sell-off.
ATOM’s price continues to look weak after a bearish downtrend with the market’s current state, as things look uncertain for most traders and investors.
ATOM’s price trades below the daily 50 Exponential Moving Average (EMA) as bulls eye levels to buy in.

Cosmos (ATOM) Price Analysis On The Weekly Chart

The past few days have been filled with so much turbulence in the crypto space as many altcoins have struggled to show strength after losing their key support holding off price decline.

The price of ATOM saw its price decline to a weekly low of $9.5 before bouncing off this region, showing some great strength to a region of $10 as the price aims to break higher.

Weekly resistance for the price of ATOM – $11.5.

Weekly support for the price of ATOM – $6.5.

Price Analysis Of ATOM On The Daily (1D) Chart

Daily ATOM Price Chart | Source: ATOMUSDT On Tradingview.com

The price of ATOM remains weak in the daily timeframe as the price trades below the key support region of $11.5, with bulls eyeing lower regions to buy in on the price of ATOM.

The region of $8.5-$5.5 has been a key demand zone for the price of ATOM on both weekly and daily timeframes, considering how strong this project has been with good community backing.

Daily resistance for the ATOM price – $12.

Daily support for the ATOM price – $8-$5.

Featured Image From zipmex, Charts From Tradingview

17th October 2022

Cosmos Clings To $12 As Price Struggles, Will This Region Act As Strong Support?

ATOM’s price shows strength as price breaks bounced off from $12 with good volume with eyes set to reclaim $13.
ATOM breaks out of a downtrend as the price resumes a bullish structure.
The price of ATOM continues to trade above 50 Exponential Moving Average (EMA) in the four-hourly timeframe.

The price movements of Bitcoin (BTC) have hurt most altcoins, with Cosmos (ATOM) finding its price at key support as bulls defend this region with blood and sweat. The recent Consumer Price Index news had a significant impact on the crypto market, as the price of BTC fell to a low of $18,200 before rebounding to $19,300, with many altcoins struggling to keep up, but Comos (ATOM) proved resilient. (Data from Binance)

Cosmos (ATOM) Price Analysis On The Weekly Chart.

Despite experiencing some great price movement in recent weeks due to so many traders and investors becoming interested in the various projects built on the Cosmos ecosystem, this, in a way, serves as a huge catalyst for such price movement.

After the price of ATOM dropped to a weekly low of $6, the price rallied from this low to a high of $17, where the price faced resistance to breaking above this region to a height of $20.

The price of ATOM faced a rejection to a low of $11.5, where the price bounced and rallied to a high of $12, reclaiming this region as it has been a key support for ATOM prices.

ATOM’s next weekly candle closed bearish, but the new week’s candle opened with bullish signs as the price of ATOM could be set for a rally to a region of $13, where the price will face resistance to break higher.

Weekly resistance for the price of ATOM – $13.

Weekly support for the price of ATOM – $12.

Price Analysis Of ATOM On The Daily (1D) Chart
Daily ATOM Price Chart | Source: ATOMUSDT On Tradingview.com

In the daily timeframe, the price of ATOM continues to trade below key resistance despite breaking out from its downtrend after the price got rejected from a high of $17.

The price of ATOM has shown strength, as the price broke out from a descending triangle as the price tries to break above 50 EMA at $12.75, acting as resistance for ATOM price. If the price of ATOM reclaims 50 EMA, we could see more price action to a region of $13-$14.

The Relative Strength Index (RSI) for ATOM price on the daily timeframe looks good after rallying from a region of oversold, which indicates good buy volume for ATOM

Daily resistance for the ATOM price – $13.

Daily support for the ATOM price – $12.2.

Featured Image From BitcoinKE, Charts From Tradingview

10th October 2022

Cosmos (ATOM) Invalidates Uptrend; Where Is The Next Area Of Interest For Price?

ATOM price struggles on high timeframes to trend higher despite showing bullish sentiment in recent times.

ATOM trades below uptrend support as the price looks bearish with the current market state.
The price of ATOM eyes key support as price trades below 50 and 200-day EMA.

The price of Cosmos (ATOM) struggles to discover its bullish trend as the price breaks below uptrend support against tether (USDT). The previous weeks saw the crypto market cap looking good as prices of Bitcoin (BTC) and other crypto assets, including Cosmos (ATOM), showed so much strength as price rallied from a low of $6 to a high of $17. (Data from Binance)

Cosmos (ATOM) Price Analysis On The Weekly Chart.

Despite showing some great price movement in recent weeks with so many traders and investors becoming interested in the different projects being built on the Cosmos ecosystem, this, in a way, is a huge catalyst for such price movement.

After the price of ATOM dropped to a weekly low of $6, the price rallied from this low to a high of $17, where the price faced resistance to breaking above this region to a height of $20.

The price of ATOM faced a rejection to a low of $12.5, where the price bounced and rallied to a high of $13.5 but could not move higher as the price continued to range.

ATOM’s next weekly support is at $12.1, with the price eyeing a retest of that region; if ATOM fails to hold this region, we could see the price going lower as there is no strong weekly support close to this region.

Weekly resistance for the price of ATOM – $17.

Weekly support for the price of ATOM – $12.1.

Price Analysis Of ATOM On The Daily (1D) Chart
Daily ATOM Price Chart | Source: ATOMUSDT On Tradingview.com

In the daily timeframe, the price of ATOM continues to trade below key resistance formed by the uptrend line as the price broke below this trendline, helping ATOM to maintain its bullish structure for the past days it had trended.

The price of ATOM has shown strength, as the price has held on not going below key support, as this could lead to more sell orders for ATOM holders.

Daily resistance for the ATOM price – $13.8.

Daily support for the ATOM price – $12.1-$10.4.

Onchain Analysis Of ATOM
ATOM Onchain Analysis | Source: On Messari.io

The ATOM price from the on-chain analysis looks more decent despite a fall of over 70%. ATOM produced a reasonable return on investment (ROI) of 64% over the past three months compared to other crypto assets that have struggled for the past months.

Featured Image From zipmex, Charts From Tradingview and Messari

10th October 2022

Cosmos (ATOM) Leads Gains Among Top Coins

Despite being down 2.74% as of writing, Cosmos (ATOM) still leads gains among top coins in the past week. The internet of blockchains has had its fair share of roses and thorns during the week. However, data from CoinMarketCap shows that ATOM has enjoyed several peaks and is still trading in the green.

The blockchain has also experienced high trading volume within the past 24 hours, up 14.93%. It has also held its end against top coins like Wrapped Bitcoin, Cronos, and Ethereum Classic, considering the 7-Day trading activity.

Lower Timeframe Structure Remains Bullish Despite ATOM Stall

The ATOM price has produced a sequence of higher lows during the last week. Crucially, it established a short-term uptrend by breaking above the prior lower highs at $12.54 and $12.84. Higher time frame charts saw this as more of a bounce. Plus, it was met with strong resistance around the $13.4 level.

As the price approaches the white ascending trendline, it may find some support there. A session closing below $13 would once again render the lower-timeframe structure bearish. This may cause prices to fall back to the $12.35-$12.4 support area. However, if ATOM can break out over $13.4, it might signal a significant upward trend. Such a rise can potentially drive ATOM over the $14.8 resistance zone that has been in place since late September.

As of this writing, the RSI reading was 46. Even though it has dropped below the neutral 50 levels, there is no sign of bearish momentum. The OBV was flat as well. This indicated that neither the purchasers nor the vendors were in a position of power. It also suggested that a bullish breakthrough was less likely to occur.

ATOM’s price is currently hovering below $13. | SourceL ATOMUSD price chart from TradingView.com
ATOM Records Higher Total Staked Value, Thanks to DeFi

The DeFi sector on Cosmos has been booming in recent weeks. After publishing the “Cosmos Hub Roadmap 2.0,” Cosmos received great interest from investors. In addition, the native token ATOM saw growth in terms of total value locked (TVL), development engagement, and the number of holders in the third quarter of 2022.

According to a tweet recently posted by the Cosmos Daily, the DeFi industry is one of the fastest-growing parts of the Cosmos ecosystem. The TVL of popular protocols like the Kava Network skyrocketed in the previous month to 291.2 million. Osmosis zone and THORChain, two other protocols, garnered $209 million and $105.85 million, respectively.

Still, on on-chain analytics, there was a steady increase in the number of cryptocurrency investors who held ATOM throughout the year. Despite this, there was no significant increase in the number of transactions or the volume. We also saw top DeFi platforms like dYdX move from Ethereum to Cosmos within the past week. One could say that many investors are in for the long ride, especially given dYdX’s big move and the blockchain’s plans outlined in its updated roadmap.

Featured image from Pixabay and chart from TradingView.com

4th October 2022

Cosmos Looks Promising As Price Rally, Can Price Breach $14?

ATOM price breaks downtrend as price gears up for a short-term recovery creating more bullish sentiment.
ATOM looks strong on the low timeframe.
The price of ATOM breaks and holds above 8 and 20 EMA.

Cosmos (ATOM) showed so much strength as price trends for days, with many becoming interested as to why Cosmos (ATOM) trends against tether (USDT) in such market conditions. With the price of Bitcoin (BTC) showing some great momentum, we could see the price of altcoins, including ATOM, move easily as it eyes a rally to $14. (Data from Binance)

Crypto Market Outlook
Crypto Market Outlook | Source: Coin360

The new month has been more of a relief for most crypto projects as altcoins, including the likes of ATOM, show bullish strength, with the price of BTC leading the market rallying from a low of $18,800 to $20,100. With the market looking more promising for crypto assets, we could see more recovery from cryptocurrencies as the previous month has prevented major altcoins from a rally.

Cosmos (ATOM) Price Analysis On The Weekly Chart

The price of ATOM in recent weeks showed so much strength as price rallied from a weekly low of $6 to a high of $17 with so many gains as the price topped the crypto chart for weeks showing no sign of weakness.

ATOM’s price faced rejection as it was unable to break above $17.5, acting as resistance to the price of ATOM and the area of supply.

The price tried several times to flip this resistance area into support to rally higher to a region of $20, but the price was rejected due to more sell orders in that region. ATOM’s price dropped to a low of $12, acting as a good support area for the price in case of a sell-off.

The price of ATOM continued to range in this region of $12 before having a weekly close, with the price looking more bullish for the week as it aims a recovery to $14

ATOM’s price needs to hold above $13 for the price to have a chance to trend higher to the anticipated $14. If the price of ATOM fails to hold at $13, we could see the price retesting the region of $12. But if ATOM trends to $14 and flips it into support, we could retest the region of $17, acting as a supply area for ATOM price.

Weekly resistance for the price of ATOM – $14.

Weekly support for the price of ATOM – $12.5-$12.

Price Analysis Of ATOM On The Daily (1D) Chart
Daily ATOM Price Chart | Source: ATOMUSDT On Tradingview.com

The price of ATOM on the daily timeframe continues to look bullish as the price forms a descending triangle and breaks out of it with good volume.

ATOM’s price is currently trading at $13.90 as the price broke out of the descending triangle and trades slightly below the 8 and 20-day Exponential Moving average (EMA), acting as resistance zones for the price of ATOM. The price at $12.9 and $13.4 corresponds to the 8 and 20-day EMA for ATOM.

Daily resistance for the ATOM price – $13.4-$14.

Daily support for the ATOM price – $12.5.

Featured Image From zipmex, Charts From Tradingview and Coin360

20th September 2022

Cosmos Struggles With $17 As Price Heads Into Distribution Phase

ATOM struggles to break $17 as the price gets rejected.
The price of ATOM enters the distribution phase on a daily timeframe.
ATOM’s price needs to hold the key support at $12 to maintain a bullish structure.
Hidden bearish divergence resurfaces in the 4H timeframe.

Cosmos (ATOM) has been the major player of the current relief bounce, with price rallying from a region of $6 to $17, with many paying so much attention to its ecosystem as this could prove to be a major player also in the bull run. The price of Cosmos (ATOM) showed so much strength, holding pretty well against tether (USDT) as the market continued to decline in price.

Cosmos (ATOM) Price Analysis On The Weekly Chart

Despite a decline in its price from $45 to $6, over 70% decline from its all-time high, the price of ATOM showed great strength as price bounced from its weekly low of $6, rallying to a high of $17 before facing a rejection to break above that region to higher heights.

The price of ATOM on the weekly chart looks strong despite seeing more sell orders lately as the price continues to hold. For ATOM to resume, its bullish sentiment price needs to rally and break above $17, as this has proven to be a resistance to ATOM prices.

ATOM’s price is trading at $14.3 below its resistance; the price of ATOM needs to hold above $12 to avoid the price from going lower due to the sell-off. If the price of ATOM holds this region, there could be more belief of a rally to its resistance at $17 and possibly breaking and holding above this region.

A break below $12 would mean retesting lower demand zones and reluctance for bulls to step into buy orders as there would be more agitation for lower prices.

For ATOM’s price to restore its bullish move price need to break and hold above the $17 resistance preventing the price of ATOM from trending higher. If the price of ATOM keeps rejecting the trendline resistance, we could see the price going lower as there are more sell orders than buy orders.

Weekly resistance for the price of ATOM – $17.

Weekly support for the price of ATOM – $12.

Price Analysis Of ATOM On The Four-Hourly (4H) Chart
Four-Hourly ATOM Price Chart | Source: ATOMUSDT On Tradingview.com

The 4H timeframe for ATOM prices continues to weaken as prices break to the downside, as there seems to be a hidden bearish divergence suggesting the price of ATOM could retest the support area at $13.

On the 4H timeframe, the price of ATOM is currently trading at $14.5 below the 50 Exponential Moving Average (EMA), acting as resistance for ATOM price. The price of $15.2 corresponds to the resistance at 50 EMA for the price of ATOM. The price of ATOM needs to hold the support area at $13, which corresponds to the 200 EMA.

Four-hourly resistance for the ATOM price – $15.2.

Four-hourly support for the ATOM price – $13.

Featured Image From zipmex, Charts From Tradingview

19th September 2022

Cosmos ATOM Also Loses Its Gains As Market Fluctuates Heavily

ATOM remained an exception to the general downtrend of the crypto market for a couple of days as it continued to gain despite heavy price fluctuations of other tokens.

The Ethereum Merge took place successfully on September 15th, marking a historic moment in the history of crypto. However, just as some analysts predicted, it did not result in a spike as optimists have forecasted. In fact, most cryptos, including ETH, and BTC, experienced a downturn at the same time. This confirmed the “Buy the rumor, sell the news” tag; crypto analysts conferred on the event in advance.

Nonetheless, one token continued to stand out amidst the bearish market trends, the native crypto of the Cosmos protocol. Despite the extreme market fluctuations, ATOM continued to glide upward, gaining up to 20% in 48hours. ATOM is trading around $17 dollars at the time of writing, close to 20% above its $14 price 48 hours before. The Cosmos native token has been experiencing its up and downs in an ever-ascending trendline, unlike the wider market.

ATOM Gains Were Due To IBC and Staking Opportunities

The recent gains lead back to the influx of protocols migrating to the Cosmos blockchain. After the crash of the Terra ecosystem, several projects rebuilt their operations on Cosmos Hub. Consequently, each project adds value to ATOM by participating in the inter-blockchain security system IBC.

Cosmos also offers staking opportunities with a lucrative APY of close to 18%. Furthermore, the network is introducing different utilities into its ecosystem, which will increase the value of ATOM going forward. One of these is the liquidity staking the protocol is ready to launch. Additionally, protocols on Cosmos are preparing to launch their own stablecoins, with ATOM most likely the primary assets for minting.

ATOM’s price is currently trading around $16. | Source: ATOMUSD price chart from TradingView.com
Recent Macroeconomic Events Contribute to Increased Market Volatility

Meanwhile, recent macroeconomic events have increased bearish pressure on the digital assets market. As cryptos struggle to breach various price barriers and flip bullish, these factors bear down, causing the assets to fluctuate. Events like the recent release of the August inflation data reveal the continued rise of inflation.

Ethereum, for instance, has been rising and falling within the $1,700 and $1,500 range in the past seven days. Its volatility curve has been on a downward trend for the past week. The second largest crypto by market cap is down 11% since the Merge. ETH is currently trading below $1,500. As for Bitcoin, the crypto dropped below the $21,000 zero mark on Thursday in response to the Tuesday inflation data release. The first coin has been trading inconsistently within the range of $19,000 to $23,000. BTC is trading at above $20,000 at the time of writing.

Featured image from Pixabay and chart from TradingView.com