Cosmos (ATOM) – Time to Retrace a Bit?

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The native token of the Cosmos Ecosystem is ATOM.

At the time of writing ATOM is being traded at the price of $29.95. The price of ATOM has decreased by almost 7.62% in the past 24 hours. The maximum and minimum of the day are around $32.82 and $29.32. The daily trading volume has also decreased by almost 33.59% in one day. ATOM is listed on coinmarketcap at 33rd spot according to market capital and has a market dominance of about 0.26%. It created its all-time high in the month of September 2021 and reached a value of $44.80.

ATOM has a total supply of around 282M tokens and has a circulating supply of around 225M coins. ATOM can be traded at a lot of different exchanges such as Binance, OKEx, Huobi with different trading pairs.

Technical Analysis- Cosmos (ATOM)

On the daily time frame, we can see how the price of Atom was reacting before the break of structure. It was clearly facing resistance from the trend line. Soon it broke above but it wasn’t for long before the price broke structure again after facing strong resistance from a zone. It nearly touched its time high but the price quickly dropped down.

Cosmos (ATOM) -1D

During the break of structure, the price of ATOM created an order block which resulted in the drop of the price. The price mitigated the order block again and as a result of the reaction it faced, it quickly dropped down again. Now the only unmitigated order block lies below which can drop the price down. If a clear break above is not observed and the price doesn’t go above the order block we can expect it to drop to a level of $20. From there we can expect a possible long to the price of $28.

But if the price regains the momentum and captures the level again, we can expect the price to go and try to touch the $40’s again.

Price Prediction – Cosmos (ATOM)

ATOM is one of the most successful ecosystems in the market. Its market cap is evidence of how successful the project is and as a result, it is considered a good investment. According to the wallet investor, ATOM is expected to reach a value of $0.185 in one year. In five years ATOM is expected to reach almost $0.448. But investors think that the price will go much higher than the one which is expected.

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