Why Cosmos investors shouldn’t ‘risk it all’ as Atom hits highest point since May

Cosmos [ATOM] It reached the highest point in the price since trading at $15.70 on May 8. ATOM, dubbed “the economy of the future,” kept its investors wondering if they had any bright hope as it was far from its all-time high (ATH) at $44.45. However, the latter situation appears to have calmed the storm.

At the time of writing, ATOM stock is up 24.12% in the last 24 hours while trading at $15.79. Interestingly, there has also been an increase in the size of the Cosmos ecosystem. for every CoinMarketCap, an increase of 87% over the previous day. But the concern is whether ATOM is actually accumulating independently or tracking the recent rally in the cryptocurrency market led by Bitcoin [BTC].

Be careful

When you look at the scales on the chain, it was note That the positive and negative ATOM morale were almost at the same level. In fact, the difference was 0.182 as the positive sentiment was at 9.519.

As for the negative sentiment, it settled at 9.409, according to Santiment.

Source: feeling

Furthermore, not much has happened in the NFT ecosystem either. However, there has been a noticeable increase recently. feelings open This increased the total volume of NFT within Cosmos to $774,000 on September 7.

Unique titles that purchased these NFTs also increased to five. However, the surprising part is that both measures decreased in the wake of the ATOM rise. While the total volume of NFT has dropped to $221,000, the unique titles at the time of publication were only two.

Source: feeling

According to its development activity, ATOM has undergone increasing numbers after suggestl to update its blockchain. But is this recent rise not going to stop for a while or is it just a coincidence?

demolished for what?

According to the ATOM/USDT four-hour chart, the cryptocurrency may be able to maintain its green color in the near term. This statement is illustrated by an exponential moving average (EMA). The 20 EMA (blue) was above the 50 EMA (red). Despite the rally, the 50 EMA appears to be on its way to a search.

Regarding the long-term outlook, the 200 EMA (cyan) revealed that ATOM may retreat to new lows in the coming months as it was nowhere near the short-term indicators. In addition, ATOM investors may need to watch out for volatility.

Based on the Bollinger Bands (BB) reversal, the ATOM price rally was followed by extremely high volatility. So, expecting a pullback at any point in time may be an option if investors are to play it safe.

Source: TradingView

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