{"id":24229,"date":"2023-05-17T14:54:56","date_gmt":"2023-05-17T18:54:56","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=24229"},"modified":"2023-05-17T14:54:56","modified_gmt":"2023-05-17T18:54:56","slug":"cosmos-atom-price-trends-upwards-a-potential-breakout-or-impending-correction","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/05\/17\/cosmos-atom-price-trends-upwards-a-potential-breakout-or-impending-correction\/","title":{"rendered":"Cosmos (ATOM) Price Trends Upwards: A Potential Breakout Or Impending Correction?"},"content":{"rendered":"

After experiencing a bearish trend on April 17, 2023, that dropped the asset to a low of $10.12 from $12.88<\/a>, Cosmos (ATOM) has managed to recover slightly.<\/p>\n

Between February 8 and May 17, ATOM witnessed a significant decline of 32.89%, reaching a low point of $10.175 on May 9. The current month has, however, brought a surge in demand for Cosmos (ATOM), leading to a remarkable price performance.\u00a0<\/p>\n

What\u2019s Ahead For Cosmos (ATOM)?<\/h2>\n

According to data, ATOM experienced a substantial price decline, reaching $10.73, a 0.95% decrease<\/a> within the last 24-hour trading period.<\/p>\n

Related Reading: Will Dogecoin (DOGE) Break Free From Limbo? Market Awaits Bullish Catalyst<\/a><\/p>\n

Notably, the 24-hour trading volume is up by 9.04%, rising to $85 million, indicating that the market activities around ATOM are increasing. More buyers and sellers are actively participating in trading ATOM.\u00a0<\/p>\n

Also, an increase of more than 9% signifies potential price volatility, which might influence the price of ATOM.\u00a0But the current market sentiment of ATOM is bearish as its Fear and Greed Index<\/a> shows 28, fear.\u00a0<\/p>\n

This indicates a potential downtrend as investors and traders fear entering the market. This may also lead to high sell pressure from the investors. Based on the Fear & Greed Index reading, the market may likely experience some price correction if the bears maintain this momentum in the coming days.<\/p>\n

Cosmos (ATOM) Technical Analysis<\/h2>\n

The 200-day and 50-day Simple Moving Averages (SMAs) currently exceed the ATOM\/USDT trading pair price. This indicates that the market is on a bearish trend in longer and shorter timeframes. <\/p>\n

Also, this means that the selling momentum is stronger than the buying. However, if the bulls increase the buying pressure, some price changes might occur in a few days.<\/p>\n

The Relative Strength Index shows 44.91, meaning there\u2019s market indecision between buyers and sellers. The market in a neutral zone indicates low pressure from buyers and sellers.<\/p>\n

However, the MACD is above the signal line depicting a potential bullish momentum for ATOM. Also, the histogram is currently above the zero level, validating the bullish sentiment.\u00a0<\/p>\n

Latest Development To Spike Network Utility<\/p>\n

The ecosystem recently announced<\/a>\u00a0the adoption of its first Cosmos native shared security model by a widely known Permissionless CosmWasm platform called Neutron<\/a>.\u00a0<\/p>\n

The Replicated Security brings a new era of utility to the network. It will also help Cosmos Hub to offer security to new projects launching as Hub-secured consumer chains.<\/p>\n

The consumer chain will share its revenue with the Hub in exchange, and will also be shared with ATOM validators.<\/p>\n

Neutron being the first platform to pioneer Cosmos Hub Replicated security, will enjoy instant access to the multi-billion dollar economic security of the Hub. <\/p>\n

This recent development could attract more investors, traders, and institutions into the network, driving the demand for ATOM significantly over time.<\/p>\n

featured image from Pixabay and chart from Tradingview<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

After experiencing a bearish trend on April 17, 2023, that dropped the asset to a low of $10.12 from $12.88<\/a>, Cosmos (ATOM) has managed to recover slightly.<\/p>\n

Between February 8 and May 17, ATOM witnessed a significant decline of 32.89%, reaching a low point of $10.175 on May 9. The current month has, however, brought a surge in demand for Cosmos (ATOM), leading to a remarkable price performance.\u00a0<\/p>\n

What\u2019s Ahead For Cosmos (ATOM)?<\/h2>\n

According to data, ATOM experienced a substantial price decline, reaching $10.73, a 0.95% decrease<\/a> within the last 24-hour trading period.<\/p>\n

Related Reading: Will Dogecoin (DOGE) Break Free From Limbo? Market Awaits Bullish Catalyst<\/a><\/p>\n

Notably, the 24-hour trading volume is up by 9.04%, rising to $85 million, indicating that the market activities around ATOM are increasing. More buyers and sellers are actively participating in trading ATOM.\u00a0<\/p>\n

Also, an increase of more than 9% signifies potential price volatility, which might influence the price of ATOM.\u00a0But the current market sentiment of ATOM is bearish as its Fear and Greed Index<\/a> shows 28, fear.\u00a0<\/p>\n

This indicates a potential downtrend as investors and traders fear entering the market. This may also lead to high sell pressure from the investors. Based on the Fear & Greed Index reading, the market may likely experience some price correction if the bears maintain this momentum in the coming days.<\/p>\n

Cosmos (ATOM) Technical Analysis<\/h2>\n

The 200-day and 50-day Simple Moving Averages (SMAs) currently exceed the ATOM\/USDT trading pair price. This indicates that the market is on a bearish trend in longer and shorter timeframes. <\/p>\n

Also, this means that the selling momentum is stronger than the buying. However, if the bulls increase the buying pressure, some price changes might occur in a few days.<\/p>\n

The Relative Strength Index shows 44.91, meaning there\u2019s market indecision between buyers and sellers. The market in a neutral zone indicates low pressure from buyers and sellers.<\/p>\n

However, the MACD is above the signal line depicting a potential bullish momentum for ATOM. Also, the histogram is currently above the zero level, validating the bullish sentiment.\u00a0<\/p>\n

Latest Development To Spike Network Utility<\/p>\n

The ecosystem recently announced<\/a>\u00a0the adoption of its first Cosmos native shared security model by a widely known Permissionless CosmWasm platform called Neutron<\/a>.\u00a0<\/p>\n

The Replicated Security brings a new era of utility to the network. It will also help Cosmos Hub to offer security to new projects launching as Hub-secured consumer chains.<\/p>\n

The consumer chain will share its revenue with the Hub in exchange, and will also be shared with ATOM validators.<\/p>\n

Neutron being the first platform to pioneer Cosmos Hub Replicated security, will enjoy instant access to the multi-billion dollar economic security of the Hub. <\/p>\n

This recent development could attract more investors, traders, and institutions into the network, driving the demand for ATOM significantly over time.<\/p>\n

featured image from Pixabay and chart from Tradingview<\/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-24229","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\/24229","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=24229"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/24229\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=24229"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=24229"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=24229"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}