{"id":15632,"date":"2023-01-09T14:53:06","date_gmt":"2023-01-09T18:53:06","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=15632"},"modified":"2023-01-09T14:53:06","modified_gmt":"2023-01-09T18:53:06","slug":"cosmos-atom-jumps-over-12-in-one-day-as-market-recovers","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/01\/09\/cosmos-atom-jumps-over-12-in-one-day-as-market-recovers\/","title":{"rendered":"Cosmos (ATOM) Jumps Over 12% In One Day As Market Recovers"},"content":{"rendered":"

Cosmos traded in a highly volatile crypto market\u00a0in 2022, but 2023 is showing signs of recovery. CoinMarketCap<\/a> shows that the global crypto market cap has increased in 24 hours. <\/p>\n

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.<\/p>\n

According to a poll<\/a> 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<\/a> states that these predictions are speculative since crypto is complicated.<\/p>\n

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<\/a>.\u00a0<\/p>\n

The price change in 24 hours is $1.24, a 12.34% increase. This increment reflects in the trading volume of the asset, which is up by 265.39%<\/p>\n

How Long Will Cosmos (ATOM) Ride The Bullish Trend?<\/h2>\n

ATOM<\/a> is currently on a bullish trend at the start of the year. The formation of longer green candles<\/a> 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.<\/p>\n

Its support level of $8.441 held as the price increased. Atom will face resistance at $14.458 and $15.817. However, since these levels are below its all-time high of $44.70, it remains a possibility.<\/p>\n

The asset is trading above its 50-day and 200-day Simple Moving Averages<\/a> (SMA). It implies that both the short-term and long-term sentiments are currently bullish. Also, the Relative Strength Index (RSI<\/a>) is giving off similar signals with the reading at 75.87, which is in the overbought region.<\/p>\n

The Moving Average Convergence Divergence (MACD)<\/a> 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.<\/p>\n

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<\/a> than large-cap cryptocurrencies like bitcoin.<\/p>\n

What Is Driving Cosmos (ATOM)\u2019 Resurgence?<\/h2>\n

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.<\/p>\n

Cosmos (ATOM) is enjoying a price resurgence due to increased trading activity, according to data from CoinGecko<\/a>. The Cosmos Network seeks to serve as a bridge connecting other blockchains<\/a> to communicate seamlessly.\u00a0<\/p>\n

Also, the provision of regular upgrades on the network, such as Web3 solutions<\/a>, has helped its popularity. On the Cosmos network, blog users receive regular updates about events.\u00a0<\/p>\n

Cosmos has a community<\/a> with a rich following where information and communication remain a priority. Developers can also communicate and exchange ideas in the community.<\/p>\n

The network also supports up to 266 modern apps and services<\/a>. With a thriving ecosystem and everyday use case, it is easy to see why the token is enjoying a resurgence.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Cosmos traded in a highly volatile crypto market\u00a0in 2022, but 2023 is showing signs of recovery. CoinMarketCap<\/a> shows that the global crypto market cap has increased in 24 hours. <\/p>\n

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.<\/p>\n

According to a poll<\/a> 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<\/a> states that these predictions are speculative since crypto is complicated.<\/p>\n

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<\/a>.\u00a0<\/p>\n

The price change in 24 hours is $1.24, a 12.34% increase. This increment reflects in the trading volume of the asset, which is up by 265.39%<\/p>\n

How Long Will Cosmos (ATOM) Ride The Bullish Trend?<\/h2>\n

ATOM<\/a> is currently on a bullish trend at the start of the year. The formation of longer green candles<\/a> 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.<\/p>\n

Its support level of $8.441 held as the price increased. Atom will face resistance at $14.458 and $15.817. However, since these levels are below its all-time high of $44.70, it remains a possibility.<\/p>\n

The asset is trading above its 50-day and 200-day Simple Moving Averages<\/a> (SMA). It implies that both the short-term and long-term sentiments are currently bullish. Also, the Relative Strength Index (RSI<\/a>) is giving off similar signals with the reading at 75.87, which is in the overbought region.<\/p>\n

The Moving Average Convergence Divergence (MACD)<\/a> 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.<\/p>\n

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<\/a> than large-cap cryptocurrencies like bitcoin.<\/p>\n

What Is Driving Cosmos (ATOM)\u2019 Resurgence?<\/h2>\n

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.<\/p>\n

Cosmos (ATOM) is enjoying a price resurgence due to increased trading activity, according to data from CoinGecko<\/a>. The Cosmos Network seeks to serve as a bridge connecting other blockchains<\/a> to communicate seamlessly.\u00a0<\/p>\n

Also, the provision of regular upgrades on the network, such as Web3 solutions<\/a>, has helped its popularity. On the Cosmos network, blog users receive regular updates about events.\u00a0<\/p>\n

Cosmos has a community<\/a> with a rich following where information and communication remain a priority. Developers can also communicate and exchange ideas in the community.<\/p>\n

The network also supports up to 266 modern apps and services<\/a>. With a thriving ecosystem and everyday use case, it is easy to see why the token is enjoying a resurgence.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-15632","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/15632","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=15632"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/15632\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=15632"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=15632"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=15632"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}