Cosmos is a project that addresses some of the most difficult problems in the blockchain industry. By offering a connected blockchain ecosystem, Cosmos aims to offer an antidote for “slow, costly, non-scalable and polluting proof-of-work protocol such as Bitcoin. While the asset price has dropped by about 5%, its volume has been lower by more than 30%. Recent changes made by Crypto research firm Delphi Digital to shift its research and development focus to the Cosmos ecosystem, Sept. 8, saw it gain approximately 24%.
ATOM traded at $13.39.
Cosmos (ATOM) Chart
ATOM experienced a sharp decline and closed in red for 11 consecutive weeks, from 4th April 2022 through 13th June 2022. The asset experienced a ‘Morning Star (Bullish Reversal Pattern at the Bottom of $5.55) and began moving upwards in an “Ascending channel” pattern. Atom broke above the channel to reach the high of $17.19. However, the bulls failed to push prices above $17.25 resistance and are now witnessing profit booking. The asset is supported at $13.35 (20 Week Moving Average), but it must close above $17.25 to continue its rally.
Support 2Support 1AssetResistance 1Resistance 210.4513.35ATOM17.2520.5
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