Cosmos (ATOM) has managed to pull it off despite the decline in demand due to a bearish market.<\/p>\n
Altcoin rallied by 27% in the past week
\nCosmos\u2019 integration with DOT, ETH to trigger a spike in demand
\nATOM price experiences exhaustion<\/p>\n
ATOM has been remarkably bullish since June and in fact, dubbed to the one top-performing cryptocurrencies in the past three months.<\/p>\n
The altcoin was on a bull run as seen in the past week, rallying by as much as 27%, following its rebound from the ascending support line.<\/p>\n
In the face of an upswing, ATOM is showing signs of a pullback especially since it appear to be hovering within the key resistance zone as of late.<\/p>\n
Could ATOM be nearing its exhaustion phase? Is it time to throw in the towel?<\/p>\n
ATOM Facing Bearish Retracement<\/p>\n
ATOM has suffered a massive drop in May as it tested its resistance zone. The altcoin was not able to move past the key resistance level on August 24 and 25.<\/p>\n
As it is, Cosmos seems to be pushing through hurdles at the same level for the past few days.<\/p>\n
As of press time, the crypto is experiencing a bearish retracement. According to CoinMarketCap<\/a>, the crypto\u2019s price has nosedived by 6.19% or trading at $11.84.<\/p>\n However, it\u2019s selling activity remains incredibly low which might be connected to the updates or developments going on within the Cosmos network. There is a huge possibility that this can increase the demand for ATOM.<\/p>\n Regardless, ATOM looks promising and healthy for long-term alongside the rest of the other cryptocurrencies.<\/p>\n Integration With DOT, ETH To Trigger Pump<\/p>\n Cosmos\u2019 integration with Polkadot and other developments with other networks like Ethereum Beacon have also amplified the demand for DOT and vice versa.<\/p>\n These partnerships are healthy, collaborative, and mutually beneficial and can pull the price up for the networks involved.<\/p>\n The Ethereum Merge, which is a collaboration or merger in between ATOM and the Ethereum Beacon Chain has also set the stage for upgrades in terms of scaling and sharding that could happen on September 15.<\/p>\n This merger is said to help with decreasing the energy consumption level of Ethereum by as much as 99.59% as validators will be replacing miners in staking ETH holdings.<\/p>\n A minimum of 32 ETH is required to stake. Despite the recent rally, investors can still get ATOM at a discounted price.<\/p>\n Like other cryptocurrencies, ATOM has plunged to a new low. August wasn\u2019t a good month for the altcoin as investors seem to have abandoned it in search for more viable cryptos while some oversold their holdings.<\/p>\n While ATOM started at a solid footing during its launch, the crypto crashes have made it entirely difficult for the altcoin to perform better in the bear market.<\/p>\n\n ATOM total market cap at $3.38 billion on the daily chart | Source: TradingView.com<\/a> <\/p>\n Cosmos (ATOM) has managed to pull it off despite the decline in demand due to a bearish market.<\/p>\n Altcoin rallied by 27% in the past week ATOM has been remarkably bullish since June and in fact, dubbed to the one top-performing cryptocurrencies in the past three months.<\/p>\n The altcoin was on a bull run as seen in the past week, rallying by as much as 27%, following its rebound from the ascending support line.<\/p>\n In the face of an upswing, ATOM is showing signs of a pullback especially since it appear to be hovering within the key resistance zone as of late.<\/p>\n Could ATOM be nearing its exhaustion phase? Is it time to throw in the towel?<\/p>\n ATOM Facing Bearish Retracement<\/p>\n ATOM has suffered a massive drop in May as it tested its resistance zone. The altcoin was not able to move past the key resistance level on August 24 and 25.<\/p>\n As it is, Cosmos seems to be pushing through hurdles at the same level for the past few days.<\/p>\n As of press time, the crypto is experiencing a bearish retracement. According to CoinMarketCap<\/a>, the crypto\u2019s price has nosedived by 6.19% or trading at $11.84.<\/p>\n However, it\u2019s selling activity remains incredibly low which might be connected to the updates or developments going on within the Cosmos network. There is a huge possibility that this can increase the demand for ATOM.<\/p>\n Regardless, ATOM looks promising and healthy for long-term alongside the rest of the other cryptocurrencies.<\/p>\n Integration With DOT, ETH To Trigger Pump<\/p>\n Cosmos\u2019 integration with Polkadot and other developments with other networks like Ethereum Beacon have also amplified the demand for DOT and vice versa.<\/p>\n These partnerships are healthy, collaborative, and mutually beneficial and can pull the price up for the networks involved.<\/p>\n The Ethereum Merge, which is a collaboration or merger in between ATOM and the Ethereum Beacon Chain has also set the stage for upgrades in terms of scaling and sharding that could happen on September 15.<\/p>\n This merger is said to help with decreasing the energy consumption level of Ethereum by as much as 99.59% as validators will be replacing miners in staking ETH holdings.<\/p>\n A minimum of 32 ETH is required to stake. Despite the recent rally, investors can still get ATOM at a discounted price.<\/p>\n Like other cryptocurrencies, ATOM has plunged to a new low. August wasn\u2019t a good month for the altcoin as investors seem to have abandoned it in search for more viable cryptos while some oversold their holdings.<\/p>\n While ATOM started at a solid footing during its launch, the crypto crashes have made it entirely difficult for the altcoin to perform better in the bear market.<\/p>\n ATOM total market cap at $3.38 billion on the daily chart | Source: TradingView.com<\/a> <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-7117","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\/7117","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=7117"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/7117\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=7117"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=7117"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=7117"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nFeatured image from Freepik, chart from TradingView.com<\/a><\/p>","protected":false},"excerpt":{"rendered":"
\nCosmos\u2019 integration with DOT, ETH to trigger a spike in demand
\nATOM price experiences exhaustion<\/p>\n
\nFeatured image from Freepik, chart from TradingView.com<\/a><\/p>\n