Analyzing the trajectory of ATOM’s price within the Cosmos ecosystem provides valuable insights into its development from its founding in 2017. This journey has been marked by significant events such as the inter-blockchain communications protocol debut in 2021 and Kwon’s CEO shift in 2020. As ATOM powers decentralized blockchains and streamlines transactions, its pricing fluctuations reflect the growth and embrace of Cosmos’s creative form.
This article will analyze ATOM’s current and weekly price and include its price prediction.
Current price
Cosmos Hub (ATOM) is currently trading at $11.47, with a $125,458,706.93 24-hour trading volume. This indicates a price loss of -0.59% over the last day and -6.30% over the last seven days. With 390 million ATOM in circulation, Cosmos Hub has a $4,481,350,343 market cap.
ATOM’S Price History
In the past month, the value of ATOM has surged by 16.4%, resulting in a significant increase of $1.89. This sudden growth indicates that the coin has the potential to become a valuable asset if it continues to rise.
The lowest recorded price for Cosmos Hub (ATOM) was $1.16 on Mar 13, 2020, which is approximately 4 years ago. In comparison, the current price is a staggering 888.74% higher than the lowest price ever.
Conversely, the peak price of ATOM was observed at $44.45 on January 17, 2022, or around two years ago. On the other hand, compared to the maximum price ever reached, the present price is 74.19% cheaper.
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Technicals
It’s withstanding on strong inclined rectangular support, which has been tested multiple times and it has bounced after it. If it gets respected again it will bounce but incase it breaks would trigger a short opportunity.
A bullish ascending channel pattern can be seen on the chart. The price, which is currently at the lower edge of the channel, indicates that this is a good time to enter the market long, with a target of $11.463. With a target exit near $12.00 and an aim for a rise towards the upper channel boundary, risk is managed with a stop loss just below $10.00. The setup provides a good risk-reward ratio, and the pattern’s integrity sustains confidence.
Though inflecting, the momentum is bearish. The momentum may have bottomed because the MACD Histogram bars are rising, indicating that momentum may be approaching another upswing. The MACD Line is below the MACD Signal Line, and the RSI is below 45.
Priority Support Zone $10.00, followed by $9.00. The Resistance Zone closest is $12.00.
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Price prediction
Cryptocurrency experts anticipate the price of ATOM in April 2024. Throughout the month, $11.55 may be the lowest trading price, and $17.03 the highest. According to average estimates, Cosmos may be worth roughly $14.29, with a possible return on investment of 47.8%.
Endnote
In summary, ATOM’s progress inside the Cosmos ecosystem has led to numerous noteworthy successes, indicating its value as an investment. It is currently trading at $11.47, and previous swings have offered development opportunities as well as challenges. ATOM presents significant investment opportunities. Technical research shows a favorable trend inside a channel pattern, and analysts project that by April 2024, the price may rise as high as $14.29. Because of this, Cosmos is an appealing choice for anyone searching for chances in the volatile cryptocurrency market.