Cosmos Price Up by 37.39% – Time to Buy ATOM Coin?

Cosmos describes itself as a unique blockchain 3.0 crypto project focusing on solving some of the biggest challenges in the crypto industry. Cosmos has recorded a consistent and encouraging position in the market in the past few days.

Analysts are looking at Cosmos with hope again as the project continues to build excitement around its name through the internet of blockchains kind of features.

ATOM, Cosmos’ fundamental cryptocurrency based on a hybrid proof-of-stake algorithm, that usually remains neutral is significantly gaining with bigger moves all through this week.

ATOM Rallies Ahead as Investors Favor Promising DeFi projects for 2022

Cosmos is currently one of the top crypto performers in the global market due to its last day trading outcome. Within just 12 hours, ATOM has climbed almost 12.5% which is not common for the relatively dormant fiat currency. 

Before reaching December’s crypto winter, the entire crypto market reached stellar gains but after the holiday season, there have been no significant pullbacks in sight. It is a sign that investors are playing it safe and varying toward high-risk plays.

Even though several top gainer cryptocurrencies from a few days back have experience sell-off situations, but Cosmos seems holding on tight and come out as one of the exceptional cases. Over the week ATOM has managed to go above 9.4% as investors are going all out with their picks from decentralized finance, blockchain 3.0, NFTs, and other spaces that are oozing with potential.

If we compare the last year’s performance then currently ATOM is surging at 400% with its promise to bridge the gap between blockchain interoperability. Investors are looking at the situation as a golden opportunity to make a stronghold in Cosmos.

Cosmos could later drive price increase when they launch infrastructure for allowing levels of fragmentation seen in the blockchain network and also prioritize scalability to substantially increase the number of transactions processed in a definite time range.

As the crypto market keeps evolving, new blockchain projects with a completely new agenda might take place of the current top performers and yet Cosmos would be one of the relevant blockchains to support.

Cosmos has not only been promising the future but also working hard to increase adoption across different channels and now there are over 262 apps and services using its network.

ATOM Technical And Fundamental Analysis

It is impossible to grasp the current situation of ATOM without looking at things from a technical perspective. Though Cosmos has been eyeing the blockchain services market, crypto analysts believe that there is a lot going on. 

The positive momentum of ATOM is clear to see on the graphical representation shown above. Several technical indicators have also put ATOM in the strong buy zone for good. The forecast seems to be clear for the next few days for ATOM as investors are expected to keep on jumping into it.

A total of 13 technical indicators including reliable moving averages and traders’ favourite oscillators are building a buy price action. Whether you look at the RSI (63.64), MACD (3.08), or SMA (30.49) and EMA (31.80). 

Despite the overall rough and sluggish day for trading crypto, ATOM recorded up to $2 billion in trading volume during the past 24 hours, with an almost 81% increase. Subsequently, cosmos market dominance has also shifted to 0.4%, placing it at 25th rank.

The total market of Cosmos is just above $8.9 billion which could jump further if the rally persists..

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