Cosmos ATOM/USD seems to be a lesser-known cryptocurrency than that of the other large-cap digital currencies.
It has also been increasing in valuation and become one of the very few cryptocurrencies that are now in the green amid a sea of red. Cosmos is a cryptocurrency platform that intends to link decentralized applications throughout many blockchain technologies. The goal is to develop a web of interrelated Dapps. This will serve as the basis for Web 3.0.
The Cosmos community has evolved significantly in the last year. This adds significant worth to the Cosmos coin. Regardless of the fact that ATOM is an inflating coin, this is now the case.
Cosmos Ecology is Expanding
Cosmos’ valuation can and will climb 5.85 % to $ 29.09 mostly by March 12, 2022, as per the present Cosmos price prediction. Also, it is among the handful of cryptocurrencies that really is currently on an upward trajectory. The announcements of a significant Cosmos/Polkadot bridge, as well as the listing of ATOM on FTX, are driving this. Trading volumes are increasing. Furthermore, price movement suggests that ATOM might continue to rise in the coming week.
Cosmos is now on a tear. It gained nearly 30% in the last week alone. This comes afterward that a bridge connecting Cosmos and Polkadot had reached a significant milestone. The announcement of that kind of bridge has piqued investor confidence in ATOM. This will almost certainly result in an increase in the number of developments being built on Cosmos.
Cosmos is becoming featured on additional major exchanges. This is in addition to an upgrade on the Cosmos/Polkadot Bridge named Astra/Shiden. FTX is by far the most recent major exchange to list Cosmos. This is significant since it indicates greater liquidity as well as demand. It is in particular when the price rises and new investors vie for a portion of said action.
ATOM Shatters the Bearish Channel
Cosmos’ pricing has been stuck at a level around $34 and $44 for the greater half of January. Although rumors of a bridge between Cosmos and other businesses surfaced a few weeks ago, ATOM’s stock fell as a result of the broader market downturn.
The gradual increase in Bitcoin predominance is also bad news for altcoins. The BTC Dominance data has previously remained in a significant upswing. Even on lesser timescales, it indicates that altcoins may see declines throughout the upcoming weeks.
Even when the larger market weakened, ATOM was already on a rise since February 24, 2022. ATOM, on the other hand, has slowed down in the previous 24 hours.
ATOM was moving in a negative channel the whole day of Saturday and early Sunday. Since that day, the pain has subsided. Bulls successfully forced ATOM over the higher resistance channel at $28.97 within the previous four hours. ATOM might test values over $35 in the next 24 hours if volumes rise and a positive reversal occurs.
Prices under $25 might be challenged within the next 24-hours or so if bears seize command and the 24-hour barrier of $28.64 is destroyed.
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