The Cosmos price endured a grave toll along with other altcoins from the previous crypto crash. Like many other coins, ATOM price declined by more than 35%. This article is all about what are the next goals for ATOM? and whether can ATOM’s price reaches $50. Let’s see all of this in this ATOM price prediction article.
What is COSMOS (ATOM) Crypto?
Cosmos is a blockchain with a focus on inter-blockchain connection. Cosmos is an ecosystem of blockchains that can scale and interoperate with each other. Blockchain has been called the internet of Blockchains because it helps a layout that allows Blockchain to thrive in uniform. Cosmos SDK is an open-source framework for developing multi-asset public Proof-of-Stake (PoS) blockchains. In other words, COSMOS is a decentralized network of autonomous parallel Blockchain supported by Byzantine Fault Tolerance (BFT) consensus.
Cosmos Network allows different blockchains to transmit, share data, and execute transactions between one another. With this, other blockchains can interoperate without claiming to be the sturdiest. Rather, the numerous blockchains can focus on their discipline and the advantages they deliver.
One of the most notable problems with blockchains is that they are created independently, and few can disseminate data. ATOM is the token that supports the COSMOS ecosystem of blockchains. Users can employ ATOM for staking and make a reward for it. Between 2019 and 2020, the ATOM price was between $3 and $8. Yet, the token was one of the successors of the Crypto bull run in 2021 that saw it hit $29. The token is currently listed on prevalent crypto exchanges like Binance and Coinbase.
ATOM Price Prediction: Is ATOM A Good Investment?
ATOM/USD Weekly chart – GoCharting
If we study the volume of the Cosmos price, we can witness that the price had fallen volume a few days ago. After the last crash, the volume picked up again. These price techniques confirm the uptrend. In addition, the Cosmos price has consistently made higher highs and higher lows in recent months. This is another criterion that must be fulfilled for an uptrend. At the time of writing this, the ATOM price is sitting at $12.72.
Support levels – $9.2 and $8.2
Resistance levels – $15 and $18
Atom is one of the most profitable tokens to invest in despite the current price decline. The existing project in COSMOS, which contains the Theta Upgrade, is anticipated to improve the prices of ATOM. Blockchain developers herding near COSMOS are also believed to support the assets of the blockchain. Yet, while the future is promising for COSMOS and ATOM, expectations from users and investors remain to be high.
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ATOM Price Prediction: Can ATOM Price Reach $50?
ATOM/USD Daily chart – GoCharting
Since sideways stages are supposed to continue new formation, we also believe in a bullish breakout in this matter. If the ATOM price breaks out in a bullish pattern, the price could touch targets above $30. We expect a top around $38 to respect the psychological $50 mark.
Although the RSI is now going towards the overbought regions, the MACD is still bullish as the trading volume gains in a bullish manner. The bullish outbreak from the chart pattern and the breaking of the golden ratio are both very bullish indicators. For the time being, however, Cosmos (ATOM) could be rejected at the resistance.
Why $ATOM is mooning?
The main collateral in three new @MakerDAO inspired stablecoins in the @cosmos ecosystem:$USK by @TeamKujira $IST by @agoric $CMST by @ComdexOfficial
These 3 chains will need $Atom to mint their stablecoins, locking up the supply.
— Ericzoo.eth (@ericzoo) August 24, 2022
What people must uncover is whether ATOM’s upside acceleration is just the consequence of a “steady” market and Bitcoin and Ether trading in a fairly predictable area, or if there is some Cosmos-based group of basics that confirm the existing move. The reason behind the price rise could be that ATOM is positioned to become a preliminary collateral asset in three new stablecoins that will establish within the Cosmos environment. Minting stablecoins will need the “lock,” or saving, of ATOM tokens and, as per the Cosmos Hub 2.0 roadmap, liquid staking is also anticipated to execute in the next few days of 2022.
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Source: https://cryptoticker.io/en/atom-price-prediction-reach-50/