Cosmos allows blockchains to exchange money with one another. The Cosmos project continues to be fraught with uncertainties. If the value rises above $6, the next level of resistance might be $7 or perhaps $8.
In less than three months, the value of Cosmos ATOM has fallen from $8.7 to $4, and it is now hovering at $5. Although there is still some ambiguity around the Cosmos venture, if the value increased over $6 twice, the next aim may be $7 or perhaps $8.
Fundamental Analysis
Cosmos is a decentralized system of parallel blockchains, all with its own BFT consensus process. Before Cosmos, blockchains remained isolated and therefore unable to interact with one another, but Cosmos’ technical vision eliminates these issues.
Cosmos allows blockchains to exchange value between themselves via IBC and Peg-Zones while maintaining their autonomy. Cosmos’ major purpose is to address the industry’s shortage of interoperability, and it’s worth noting that ATOM is the Cosmos network’s original coin.
In a recent interview with one of the project’s key programmers, Jae Kwon, one of the major creators of the Cosmos blockchain has been accused of ignoring his obligations to the program.
In a Twitter post, Tendermint CEO Zaki Manian argued that what Jae is proposing isn’t decentralization; it’s a clear ploy to absolve Jae of accountability for the Cosmos project’s carelessness and irresponsibility.
Although there is some ambiguity around the project, Cosmos ATOM is among the cryptocurrencies that people should not overlook. One must also remember that bitcoin market rules may pose a danger to this cryptocurrency.
Cosmos investors must keep in mind that the cryptocurrency is still quite dangerous, but now can be a decent time to trade it.
Bulls to Break Past Resistance Level
A rise above $8 confirms the continuation of Cosmos’ bullish pattern. The following price objective might be near $9. If the value drops below $4.5, it will be a significant sell indication, and they will have the opportunity to sell at $4.
In three months, the value of Cosmos has fallen from $8.7 to $4, and it is now hovering at $5. Cosmos has been one of the cryptocurrencies that investors really should not overlook.
If indeed the value rises above $6, the next level of resistance might be $7 or perhaps $8.
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