ATOM is likely one of the finest performers amongst the highest 30 cryptocurrencies by market cap right now.
ATOM, the native token of the Cosmos ecosystem, is likely one of the finest performers amongst the highest 30 cryptocurrencies by market cap right now. The coin has added greater than 12% to its worth right now, outperforming the broader crypto market.
The cryptocurrency market is slowly recovering right now, following a gradual begin to the week. After shedding greater than 3% of its worth yesterday, the crypto market is up by practically 2% to this point right now.
The constructive efficiency has pushed the full cryptocurrency market cap above the $1 trillion mark once more.
Bitcoin stays above the $21k stage and will rally increased right now after including greater than 1% to its worth. Ether is buying and selling above $1,600 after relying its value above the $1,500 psychological stage yesterday.
Nevertheless, ATOM is the second-best performer amongst the highest 30 cryptocurrencies by market cap (solely behind Bitcoin Money).
There isn’t any catalyst behind ATOM’s ongoing rally because it could possibly be solely a restoration from its current value crash. Regardless of including greater than 12% to its worth right now, ATOM is down by 1% within the final seven days.
Key ranges to observe
The ATOM/USD 4-hour chart has turned bullish as Cosmos has been performing nicely over the previous 24 hours.
The MACD line crossed into the constructive zone a couple of hours in the past, indicating that ATOM is not bearish.
The 14-day relative power index of 60 reveals that ATOM may enter the overbought area if the constructive momentum continues.
At press time, ATOM is buying and selling at $11.52. If the constructive momentum continues, ATOM may transfer previous the primary main resistance stage at $12.271 earlier than the tip of the day.
Nevertheless, ATOM would want the assist of the broader market to achieve the $13.60 mark for the primary time since Could.