Cosmos (ATOM) price analysis: is now a good time to buy ATOM?

Cosmos (ATOM) price analysis: is now a good time to buy ATOM?
фото показано с : invezz.com

2021-6-11 00:39

Cosmos ATOM/USD extended its correction from the record highs above $32, registered on 07th May, and the price of this cryptocurrency can weaken even more in the upcoming days.

Fundamental analysis: There is still a level of uncertainty surrounding this project

Cosmos is a decentralized network that enables blockchains to transfer value with each other while letting them retain their sovereignty. Before Cosmos, blockchains were unable to communicate with each other, while the technology of this network enables you to exchange assets and data across blockchains freely.

Each new independent blockchain created within Cosmos is tethered to the Cosmos Hub which is powered by ATOM cryptocurrency. The main goal of Cosmos is to tackle the lack of interoperability in the market, and according to the official website, ATOM will soon be securing many chains in exchange for additional staking rewards.

The popularity of this project is rising across the globe, while more and more exchanges are offering this cryptocurrency. Despite this, ATOM has collapsed from the record highs above $32 registered in the first week of May, and the risk of further declines is probably not over.

The cryptocurrency market remains under pressure, and the concerns among traders are that it may take a long time for prices to enter again in the bull zone. The price of ATOM is in correlation with the price of Bitcoin, and if the price of Bitcoin falls below the $30000 support, that will negatively influence ATOM.

“Bitcoin futures curve shows demand is weak, and the cryptocurrency bear market is just getting started. Bitcoin’s share of the crypto market’s total value needs to pass 50% to argue that the bear market is over,” an analyst from JPMorgan reported this week.

Fundamentally looking, there is still a level of uncertainty surrounding this project, and its success mainly depends on the flexibility of its strategy in response to the competitors’ moves. Cosmos is competing in the field with some heavy-weight players like Polkadot, and we can also not forget that regulations on the cryptocurrency market can be a threat to this cryptocurrency.

Investors should also have in mind that there is currently no limit on the supply of new ATOM, and if you decide to trade this cryptocurrency in June, you should always use a “stop-loss” order because the risk remains high.

Technical analysis: $10 represents the critical support level Data source: tradingview.com

Cosmos (ATOM) could weaken even more in the upcoming days, and if the price falls once again below $10, the next price target could be around $8 or even below. On the other side, if the price jumps above $17.5, it would be a strong “buy” signal, and we have the open way to the $20 resistance level.

Summary

Cosmos (ATOM) extended its correction from the record highs above $32, registered on 07th May, and the price of this cryptocurrency can weaken even more in the upcoming days. The daily trading volume has weakened, and if the price falls once again below $10, the next price target could be around $8 or even below.

The post Cosmos (ATOM) price analysis: is now a good time to buy ATOM? appeared first on Invezz.

origin »

Atomic Coin (ATOMIC) на Currencies.ru

$ 0.0008254 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0.0008254 - H: $0.0008254
Капитализация $15.315k Rank 99999
Доступно / Всего 18.555m ATOMIC / 252m ATOMIC

atom cosmos price analysis time good buy

Источник: invezz.com

atom cosmos → Результатов: 126


Фото:

Should you buy ATOM as Cosmos Hub released the ATOM 2.0 whitepaper?

The ATOM 2.0 whitepaper was released on September 26, 2022, that outlined numerous new changes to the tokenomics as well as additional features for the Cosmos (ATOM/USD) Network. Cosmos is an ecosystem of interoperable and sovereign blockchain applications and services, while ATOM is the cryptocurrency that powers an entire ecosystem of blockchains, which are purpose-built […] The post Should you buy ATOM as Cosmos Hub released the ATOM 2.0 whitepaper? appeared first on Invezz.

2022-9-28 12:45


Фото:

Cosmos (ATOM) could skyrocket to $100, according to traders

Cosmos (ATOM/USD) has had a very successful 2021, finally breaching the resistance at $7.5 in the early days of the year, and skyrocketing all the way up to $45 by late September. However, while this is still its all-time high at the time of writing — not to mention the fact that the coin was […] The post Cosmos (ATOM) could skyrocket to $100, according to traders appeared first on Invezz.

2021-12-5 17:01


Руководство: Криптовалюта Cosmos (ATOM)

За последний месяц криптовалюта ATOM подорожала на 89%, а за 22 апреля она подорожала на 31%. Такому стремительному росту криптовалюты способствовал практически одновременный листинг монеты ATOM на четырех ведущих криптовалютных биржах: Binance, Huobi, Kraken, Poloniex.

2019-4-30 14:52


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Crypto Analyst: Bull Market Hinges On This Indicator Reaching 45%

In a detailed post on X, crypto analyst Jamie Coutts outlined various indicators he monitors to gauge when the market might pick up bullish momentum. Crypto Market Might Be In The Final Stage Of The Bearish Phase Coutts, Chief Crypto Analyst at the financial knowledge and education platform RealVision, noted that the cryptocurrency market has gradually declined.