Cosmos developers have successfully rectified a critical security vulnerability in its Inter-Blockchain Communication (IBC) protocol, which had placed assets worth at least 6 million in jeopardy, following a private notification from Asymmetric Research. This flaw, existing in the protocol since its 2021 inception, became exploitable recently with the introduction of new codebase developments but was […]
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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.
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 , but 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 .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 .25 x 3 = .25
The relevant low to add this to is .25 so the PnF target is .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)
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
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 – .1151
Primary Wave 1 – .4794
Primary Wave 2 – .8482 (38.2% LFR)
Primary Wave 3 – .2433 (3.618 LFE)
Primary Wave 4 – .872 (50% LFR)
Primary Wave 5 – .7383 (1.236 LFE)
Cycle Wave 1 – Sep 2021 – .7383
Primary Wave A – .2221 (Contracting, Leading Diagonal)
Primary Wave B – .2641 (Contracting Triangle)
Primary Wave C – .5409 (Impulse)
Cycle Wave 2 – Jun 2022 – .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 – .26
1 – 2.3
1.236 – 1.3
1.618 – ,176.84
Therefore, if we expect $ATOM to be a Diagonal then .26 – 2.3 is the preferred price box.
If we are looking for the typical price box then it’s: 1.3 – ,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: .2656 and .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: .14 – .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.
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 .14 – .81. The price as I write is .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)
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.
Cover image from Unsplash, chart from Tradingview
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.
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.
Noble Partners With Circle Financial to Integrate USDC on Cosmos Blockchain
According to the token protocol startup Noble, the second-largest stablecoin, USDC, will be integrated into the Cosmos blockchain, as the company has partnered with Circle Financial for the rollout. Noble details that the integration will give access to Circle’s USDC stablecoin to more than 50 Inter-Blockchain Communication (IBC) networks.
USDC Native Support Is Coming to the Cosmos Blockchain
Noble, a token issuance protocol startup, has revealed the Cosmos network of IBC protocols will support USDC. The team introduced Noble last week in a blog post that describes the protocol as an “app-chain purpose-built for native asset issuance in Cosmos and the boundless Inter-Blockchain Communication (IBC) ecosystem.” On Tuesday, Noble announced its partnership with Circle Financial to bring USDC to the Cosmos ecosystem.
“This is a huge moment for our ecosystem,” Noble said on Tuesday. “Cosmos has never had a native, fiat-backed stablecoin that is highly liquid [and] fully collateralized. For the first time in Cosmos history, 50+ IBC-enabled blockchains will soon be able to access USDC natively via IBC,” Noble added. Circle Financial also confirmed the partnership on Tuesday and said, “We’re excited to bring USDC to Cosmos. USDC is expected to launch on [Noble] soon, stay tuned for details.”
After USDC becomes native to Cosmos, it will be the ninth blockchain where the stablecoin is natively hosted. Currently, USDC is hosted natively on Ethereum, Solana, Avalanche, Tron, Algorand, Stellar, Flow, and Hedera. Additionally, USDC is bridged to Arbitrum, Near, Fantom, and Polygon. While it was previously bridged to Cosmos, it was not hosted in a native manner. Noble says that this new native support will help overcome challenges with bridging techniques.
“This integration will catalyze hundreds of millions of dollars in liquidity over the coming months in Cosmos, and will seek to rectify the challenges that users and appchains face when interacting with bridged assets,” Noble detailed. Neither Noble nor Circle have disclosed the official launch date, but Noble stated that further announcements on asset integrations are coming, including the official launch date for USDC on Noble.
What impact do you think the integration of USDC on the Cosmos blockchain will have on the overall stablecoin market? Share your thoughts about this subject in the comments section below.
Cosmos (ATOM) Holds 18% On Weekly Chart While Major Coins Lost Profits
While top coins retraced a bearish trend and lost most of their weekly gains, Cosmos (ATOM) held on by 18.29% last week. Besides ATOM’s 1.0% price decline on March 12, it recorded successive rallies over the past seven days.
The token scored notable price gains on March 10 and 11, then from March 13-15, bringing it to its current price of .59. But ATOM has recorded a 0.73% price loss in the last 24 hours.
Factors Sustaining Cosmos (ATOM) Price Rallies
Economic Factors
Earlier this week, the crypto market saw a brief relief from a long-running bearish trend caused by fear and uncertainty among investors. Even while three top US banks faced turmoil, cryptocurrency prices soared with improved sentiment pushing the global market cap by nearly 9%.
Related Reading: Bitcoin Price Set To Rally As Macro Backdrop Is Perfect, Here’s Why
This was partly due to the reassurance from the US Fed’s interference to calm the situation. The Federal Reserve announced a Bank Term Funding Program to assist troubled banks in settling aggrieved customers.
Furthermore, the long-awaited February CPI report came out on March 14. The CPI data came out slightly lower than January CPI, similar to economists’ predictions. Hence many cryptocurrency prices, including ATOM, soared on March 14.
However, there is still uncertainty in the market as investors anticipate the Federal Reserve meeting on March 21. It would determine the next basis point for an interest rate hike.
Ecosystem Developments
Besides market sentiment, ATOM’s 18% weekly gain is higher than most coins’, as some have surrendered theirs to the bears. The latest version of Cosmos SDK could influence ATOM’s price since it opens the ecosystem to high-performance applications. Cosmos touted its new SDK v0.47 (Twilight) as the world’s most used blockchain-building framework. According to its tweet, Twilight comes with a boost in SDK performance and functionality.
On March 16, Cosmos Hub tweeted that it upgraded to V9 (Lambda Upgrade) on Wednesday, March 15, while urging users to anticipate another update called Neutron. The report disclosed that Lambda functions as a replicated security on Cosmos Hub and would see the onboarding of consumer chains to the blockchain. The Lambda hub is sparking bullish sentiment for the Cosmos crypto community and might be responsible for ATOM’s price performance.
Cosmos (ATOM) Might Be Gearing Up For Another Rally
ATOM price is down by 0.73%, with a 31.57% decline in trading volume. This suggests that most of ATOM’s gains came from the previous days’ rallies. But the loss is slight and hasn’t reached an alarming rate yet. This trend indicates the coin might recover the value lost over the past 24 hours.
ATOM is still in an uptrend today, despite recording a slight pullback. Cosmos has posted three previous green days forming higher highs on the daily chart and confirming the uptrend. Also, ATOM is in the upper channel of the Bollinger bands, which suggests that the asset is overbought and might retrace soon.
ATOM has fallen below the 50-day SMA, hinting at a short-term retracement to the downside. But its price above the 200-day Simple Moving Average (SMA) shows a long-term bullish signal.
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 .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 .441 held as the price increased. Atom will face resistance at .458 and .817. However, since these levels are below its all-time high of .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.
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 .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 to a weekly low of .5. With many looking for a major dump in Bitcoin (BTC) price, the price of Bitcoin (BTC) bounced from ,500 as price rallied to a high of ,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 on the weekly chart, but the price was rejected as ATOM’s price declined to a region of .5, bouncing off this region to trade at .5 with a small relief from the market.
Weekly resistance for the price of ATOM – .
Weekly support for the price of ATOM – .5.
Price Analysis Of ATOM On The Daily (1D) Chart
The price of ATOM remains considerably weak in the daily timeframe as the price trades above .5 support after the price was rejected from a high of .
ATOM’s price trades at .8 below its 50 and 200 EMA, acting as resistance for the price of ATOM. The price of .5 and .8 corresponds to the prices at these levels, acting as resistance.
If the price of ATOM breaks and holds above .5, we could see more rallies for the ATOM price to a region of ; a break below a region of .5 would send the price back to a region of .
Daily resistance for the ATOM price – .5.
Daily support for the ATOM price – .5-.
Featured Image From zipmex, Charts From Tradingview
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Cosmos (ATOM) Trades Below $13 As Bulls Give Up; Here Are Levels Bulls Will Buy
- ATOM’s price loses its demand zone of as the price trades to a low region of 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 to a high of . 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 after a long while.
The price of ATOM saw its price decline to a weekly low of .5 before bouncing off this region, showing some great strength to a region of as the price aims to break higher.
Weekly resistance for the price of ATOM – .5.
Weekly support for the price of ATOM – .5.
Price Analysis Of ATOM On The Daily (1D) Chart
The price of ATOM remains weak in the daily timeframe as the price trades below the key support region of .5, with bulls eyeing lower regions to buy in on the price of ATOM.
The region of .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 – .
Daily support for the ATOM price – -.
Featured Image From zipmex, Charts From Tradingview
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