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Cosmos Price Prediction: ATOM Price Shows Strength Near Support Level

Cosmos is a blockchain network that aims to solve the issues of interoperability and scalability which is a major issue for the other blockchain networks . Cosmos ecosystem provides a framework for the development of interconnected blockchain networks, which allows for seamless communication and transactions between different blockchain platforms.

ATOM holders also have a say in the governance of the network, as they can vote on proposals to make changes to the network. Another unique aspect of Cosmos is its focus on creating a decentralized internet of blockchains. By providing a framework for the development of interconnected blockchain networks, they aim to create a more open and decentralized internet which is not controlled by a few entities.

Cosmos has a market cap of $3.3 Billion and is ranked 21st in the crypto verse. Volume of the asset price has seen an increase of 19% in the intraday session. Volume to market cap ratio of ATOM suggests a consolidated trend for the price in future.

Are Bulls Of ATOM Looking For A Breakout?

Source: TradingView

The weekly technical chart of Cosmos suggests a consolidated trend in price. It has been showing a weak upside trend in the daily chart. ATOM price is currently trading near the value of $11.59 with a small drop in the intraday session. Meanwhile the resistance of the asset price can be seen near the value of $15.The support of the asset price can be seen near $8. It is trading below the 50 and 100 Daily Moving Average. There can be a negative crossover which can push the asset price to a new low in the future.

RSI of the asset price is near 46 suggesting its presence in the neutral zone.There is a downside slope suggesting a consolidated trend in price.

Conclusion

Cosmos price is currently seeing a consolidated trend with a weak upside trend. Various analysts are expecting a strong upside trend in price.

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Technical Levels

Major Support:$8

Major Resistance:$15

Disclaimer

The contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of financial loss. The forecasted data (also called “price prediction”) on this page are subject to change without notice and are not guaranteed to be accurate.

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Ahtesham Anis
Ahtesham Anis
Ahtesham Anis is a Computer Science undergrad student currently based out of India. Coming from the business background and his keen interest in Cryptocurrency and Blockchain technology is what Ahtesham brings to the table. He is always an eager learner when it comes to exploring the new technologies and topics in the crypto world.