When will ATOM reach $10? ATOM Price Analysis
Introducing Cosmos, a network of decentralized blockchains powered by the ATOM cryptocurrency. Cosmos tackles the challenges of blockchain technology by connecting different blockchains through the Interblockchain Communication protocol, with Tendermint at its core.
Cosmos made its debut in 2016, and ATOM was introduced through sales in 2017. Notable milestones include Kwon stepping down as CEO in 2020 and the launch of the inter-blockchain communications (IBC) protocol in April 2021.
In the Cosmos ecosystem, each zone operates as an independent blockchain with a robust Byzantine fault-tolerant consensus mechanism. By utilizing a proof-of-stake (PoS) algorithm, Cosmos enhances security and rewards validators with additional staked ATOM.
ATOM serves a dual purpose within Cosmos, supporting validator staking and functioning as the network’s currency for transaction fees. With its blend of innovation and simplicity, diving into the world of Cosmos is a breeze.
How much is ATOM worth?
The current price of Cosmos Hub (ATOM) stands at $9.72 today, with a trading volume of $224,476,401.54 over the past 24 hours. This indicates a decrease of 3.01% in price within the last day, but an increase of 8.20% over the past week. With a circulating supply of 380 Million ATOM, the market cap of Cosmos Hub is valued at $3,730,373,626.
Technicals
A double top was formed, and after breaking the neckline and strong trendline support, it fell 3%+. For climbing back first, it has to break trendline resistance, which was previously acting as support.
The trends are a bit of a mix. The price managed to break above the $10 resistance level, which could indicate that the uptrend is back on track. There’s a potential for a 20% increase, reaching $12 in the near term. To protect against any potential losses, set a Stop Loss level at $8.90 and keep an eye out for any price alerts.
In terms of momentum, things are looking bullish. The MACD Line is currently above the MACD Signal Line, and the RSI is sitting comfortably above 55.
When it comes to support and resistance, the nearest support zone is at $8.50, followed by $7.50. On the other hand, the nearest resistance zone was at $10.00, which it managed to break through, and the next one is at $13.00.
Price History
In the past month, the value of ATOM has surged by 3.18%, contributing a whopping $0.32 to its current worth. This unexpected rise suggests that the coin has the potential to become a valuable asset if it keeps on growing.
The Cosmos Hub (ATOM) reached its peak price at $44.45 on Jan 17, 2022, which was approximately 2 years ago. In contrast, the current price is 78.13% below the highest price ever recorded.
Its lowest price was $1.16 back on Mar 13, 2020, almost 4 years ago. The current price is a whopping 737.83% higher than that rock-bottom price.
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Price prediction
Crypto analysts project an average ATOM rate of $9 in February 2024, based on Cosmos price volatility at the start of 2024. Its anticipated minimum and maximum prices are $8.45 and $10, respectively. With an ROI of 1.7%
