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Author: Mike D.

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. Related Reading: Terra Classic (LUNC) Down 4% As Developer Accuses Terraport Of Rugpull 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). Related Reading: Terra Classic Recent Efforts Could Benefit LUNC’s Growth Potential 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. 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

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

Author: Eli Dambel

United Kingdom

Source: NewsBTC

May 24, 2023 04:45

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. Related Reading: Data Suggests Small Holders Will Drive Next Cardano (ADA) Rally 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) 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. Related Reading: Meme Coin Season May Be Over As PEPE, SHIB, DOGE, Continue Decline 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

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

Author: jamesobande

United Kingdom

Source: NewsBTC

Oct 11, 2022 12:05

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) Related Reading: Bitcoin Volatility Index Suggests Large Price Move Arriving Soon 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 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 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. Related Reading: XRP Price Hits Target Of $0.5, But Can It Break This Key Resistance? Featured Image From zipmex, Charts From Tradingview and Messari

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Cosmos (ATOM) struggles To Stay Bullish, Is $20 Still Possible?

Author: jamesobande

United Kingdom

Source: NewsBTC

Sep 15, 2022 12:05

Cosmos (ATOM) struggles To Stay Bullish, Is $20 Still Possible?

Cosmos (ATOM) has maintained so much bullish sentiment topping the charts in the crypto space; despite pullbacks across the market, Cosmos (ATOM) would recover with good volume and rally higher. The price has been faced with resistance on the weekly chart and has shown weakness as much doubt sets in if the price can reclaim the price of $20. (Data from Binance) Related Reading: Terra Dries Up As LUNA Sheds 40% From Recent High Cosmos (ATOM) Token Price Analysis On The Weekly Chart ATOM saw a decline in its price from $45 to around $6, with an over 70% drop from its all-time high despite having good fundamentals. The price of ATOM bounced off after touching a weekly low of $6, and the price rallied to $17, showing some great strength. The price of ATOM on the weekly chart showed great strength rallying to $17 with strong volume, but the price was faced with major resistance at $17 on the weekly chart. ATOM failed to flip this weekly resistance into support as the price has maintained a decline but above its bullish trendline support. For the price of ATOM to trend higher price needs to flip the weekly resistance into support and close above $17; if the price of ATOM fails to rally back to this region, we could see the price of ATOM retesting its support of $12. The price of ATOM could retest its weekly support of $12, which is a healthy retracement. So far, the support of that region holds the price of ATOM from sell-off, and this would be a good zone for more buy orders, and a possible bounce as the price aims to maintain its bullish sentiment. If the price of ATOM fails to hold $12 support, we could see the price going to a low of $8. Weekly resistance for the price of ATOM – $17. Weekly support for the price of ATOM – $12. Price Analysis Of ATOM On The Daily (1D) Chart The daily timeframe for ATOM prices continues to main the bullish structure it has formed as the price respects the trendline support holding up nicely despite seeing more sell volume. ATOM’s price needs to hold above this trendline support for the price to bounce and trend higher, but if the price of ATOM fails to hold, we could see the price of ATOM going to a daily low of $12.5. On the daily timeframe, the price of ATOM is currently trading at $13.56, holding above the 50 Exponential Moving Average (EMA), acting as support for ATOM price. The price of $12.5 corresponds to the support at 50 EMA, acting as a good area for more demand for the price of ATOM; if the support at 50 EMA fails, we could see the price going to $9. The Relative Strength Index (RSI) for ATOM is above 50 on the daily chart, indicating low buy order volume. Daily resistance for the ATOM price – $15. Daily support for the ATOM price – $12.5-$9. Related Reading: NEAR Bulls Charge Their Way Past $4.7 Amid Lack Of Spike In Volume Featured Image From zipmex, Charts From Tradingview

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What Is Mantra (OM) And Why Is The Price Up Almost 100% In One Day?

Author: Scott Matherson

United Kingdom

Source: NewsBTC

Feb 10, 2024 12:05

What Is Mantra (OM) And Why Is The Price Up Almost 100% In One Day?

One of the top gainers in the crypto market today is the Mantra (OM) token. The altcoin, which is currently leading the charge on the Binance list of top gainers, is up almost 100% in a single day. However, not much is known about this cryptocurrency, which is reaching highs after highs in 2024. What Is OM Token Used For? The OM token is the native token associated with the Mantra Chain, a Layer 1 blockchain that was launched in October 2020. The token would go on to reach a new all-time high back in 2021, but fell more than 90% in the bear market that followed. Related Reading: Bitcoin Price Jumps Above $44,000, Here Are The Factors Driving It However, in the last few months, the token has regained its footing and has begun to rally once more. The blockchain, which is developed to aid in the tokenization of real-world assets, has moved to the forefront as the RWA narrative has taken flight. In the last four months, the token has risen by more than 1700% to reach above $0.3, bringing it just a 60% move shy from its 2021 all-time highs. There has also been a notable increase in its trading volume, which has risen more than 300% in the last 24 hours alone. Why Is The Mantra Token Soaring? Like with any significant rally, there is a reason why the native token of the Mantra Chain has been soaring over the last few days, and it has to do with staking. Staking has become a prominent part of crypto investing, helping investors maximize returns on their holdings instead of leaving them to sit and do nothing. In the case of Mantra, staking was not available to investors until recently. Related Reading: Crypto Analyst Predicts Bitcoin To $100,000 But Says Cardano Is Dead, Heres Why Mantra announced staking on its chain this month and has received a warm welcome from the community. So far, more than 17% of the total token supply has been staked, showing commitment from its community. Additionally, its total value locked (TVL) has been on the rise in the last four months, surging more than 300% from $13 million in October 2023 to over $48 million in February 2024. OMs price movement in the last day has also been nothing short of impressive after rising from its daily lows of $0.23 to over $0.34 at its peak. This accounted for an over 80% growth in a single day, making it the top gainer on Binance. The price of the altcoin has since slowed down and is now trading at $0.3 at the time of writing. However, its daily gains remain significant as it continues to lead the list of top gainers on Binance with 68% gains. OM price rises almost 100% in one day | Source: OMUSDT on Tradingview.com Featured image from CoinGecko, chart from Tradingview.com

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