Cosmos (ATOM) has largely outperformed all the crypto market. The coin did nonetheless come below severe promoting strain over the previous few days. Nevertheless, it appears from chart readings that indicators of a bullish reversal are there. However what do different indicators say about ATOM? Listed below are some highlights:
On the time of writing, ATOM was buying and selling at $28.95, up practically 4% in 24-hour intraday buying and selling.
The current consolidation in value could recommend that ATOM is about to see a bullish reversal
However the coin continues to be buying and selling decrease than its 100-day Easy shifting common, albeit barely.
Knowledge Supply: Tradingview.com
Can ATOM Surge within the coming days?
Properly, for many cash, there’s at all times some extent of value consolidation earlier than any rally. That is the case with ATOM over the previous few days. Nevertheless, the coin continues to be means decrease from its 20-day easy shifting common of round $37. It’s nonetheless barely off its 100-day SMA.
With this in thoughts, it’s clear that the coin continues to be within the bear market territory. If certainly there’s going to be a good surge upwards, then ATOM should consolidate above $33 and retest the 20-day SMA within the close to time period. Though we’re seeing some indicators of upward motion, the coin has not surged quick sufficient to get to $33 anytime quickly.
Must you purchase Cosmos (ATOM)
ATOM is likely one of the most fascinating and maybe even probably the most promising blockchain initiatives proper now. It has an enormous base of trusted traders and will get superb press within the media as effectively.
For those who had been to place collectively a listing of the highest 5 blockchains to look at, Cosmos might be amongst them. It’s based mostly on this that its native token, the ATOM is a really respectable purchase, particularly for the long run.