Will ATOM Price Hit $25 Soon?

Cosmos (ATOM) Current Market Status

The maximum supply of Cosmos (ATOM) is unknown while its circulating supply is 286,370,297 ATOM coins according to CoinMarketCap. At the time of writing, ATOM is trading for $11.38 which represents a 24-hour decrease of 0.86%. The trading volume of Cosmos in the past 24 hours is $145,076,690 which represents a 4.98% decrease.

Some of the top cryptocurrencies exchanges for trading Cosmos (ATOM) are Binance, Huobi Global, Kucoin, Gate.io, and others.

Now that you have known what ATOM is and its current market status, we shall discuss the price analysis of Cosmos (ATOM) for 2023.

Cosmos (ATOM) Price Analysis 2023

Currently, ATOM is ranked in the 21st position on CoinMarketCap. Will developments and upgrades within the ATOM community lead to a rise in the price of Cosmos (ATOM)? We shall see this in this Coin Edition price analysis 2023 article.

Cosmos (ATOM) Price Analysis – Keltner Channel

The Keltner channel is a technical indicator introduced by American grain trader, Chester W. Keltner to gauge the volatility of the market. For this purpose, it has three bands; the Upper band, Middle band (EMA), and lower band. 

The upper band is calculated by adding twice the Average True Range (ATR) to the EMA (middle band), while the lower band is calculated by subtracting twice the ATR from the EMA.

The chart above shows a red rectangle that denotes the expansion and contraction of the Keltner channels. When the bands widen it means that there is going to be more volatility. Or in other words, the prices could drastically drop or increase. Contrastingly, if the bands squeeze then there could be less volatility. 

Additionally, when the price of a cryptocurrency continuously touches the upper or lower band and thereafter touches the opposite band, (which is, if a cryptocurrency continuously touches the upper band and finally touches the lower band, then we could determine that the bullish trend has faded. This applies vice versa as well). This behavior could be seen inside the Blue and Green rectangle. 

Currently, ATOM is fluctuating close to the EMA and it is testing the EMA. If it manages to break the EMA, ATOM could cross over to the first half of the Keltner channel from the second half. Additionally, since the Keltner channels are facing sideways, we could expect the prices to keep on consolidating.  

Cosmos (ATOM) Price Analysis – Bollinger Bands 

The Bollinger bands are a type of price envelope developed by John Bollinger. It gives a range with an upper and lower limit for the price to fluctuate. The Bollinger bands work on the principle of standard deviation and period (time). Moreover, the upper band as shown in the chart is calculated by adding two times the standard deviation to the Simple Moving Average while the lower band is calculated by subtracting two times the standard deviation from the Simple Moving Average. 

The Empirical law also known as the three-sigma rule or the 68-95-99.7 rule states that almost all observed data for a normal distribution will fall within three standard deviations. As such for the normal distribution data set, 68% of data will fall within 1 standard deviation of the mean, while 95% of data for the normal distribution will fall within 2 standard deviations of the mean and 99.7% of data will fall within 3 standard deviations of the mean. 

Hence, when this is applied to the price of ATOM, we could expect the coin to abide within the Bollinger bands 95% of the time. 

Moreover, the sections highlighted by red rectangles show how the bands expand and contract. When the bands widen, we could expect more volatility, and when the bands contract, it denotes less volatility. Currently, the bands are contracting as shown by the white rectangle, hence, the coin could be consolidating in the future. 

When the price of a cryptocurrency touches the upper Bollinger Band, then we say that the coin/token is overbought. It means that many are buying the coin and hence the prices have hiked. As such the market could correct the prices and the prices could fall. 

We could see how BNB retraced after touching the upper Bollinger band as denoted by the green and blue rectangle.   

When the cryptocurrency touched the lower Bollinger Band we could say that the coin/token is oversold, hence a price retracement could be on the horizon. On the contrary, if the cryptocurrency touches the upper band then we could say it is overbought. 

Notably, the Bollinger Band behaves very closely with the Keltner channel. For instance, if you were to use both the Bollinger bands and Keltner channel indicators for a cryptocurrency, you would see that almost most of the time both indicators overlap. However, the only difference between with Bollinger band and the Keltner channel is that the Bollinger bands use Standard Deviation while the Keltner channel uses Average True Range for calculating its bands which are the top and bottom limits. 

Cosmos (ATOM) Price Analysis – Relative Strength Index

The Relative Strength Index is an indicator that is used to find out whether the price of a security is overvalued or undervalued. As per its name, RSI indicators help determine how the security is doing at present, relative to its previous price. 

Moreover, it has a signal line which is a Simple Moving Average (SMA) that acts as a yardstick or reference to the RSI line. Hence, whenever the RSI line is above the SMA it is considered bullish and if it’s below the SMA then it is bearish. When considering the blue rectangle section in the chart below we can see that when the RSI line is above the Signal. As such ATOM is bullish or gaining value but when it is below the SMA it is bearish. 

The grey rectangles show that the RSI is below the signal hence the ATOM token is also losing value. 

Additionally, the RSI compares the gains of the securities against the losses it made in the past. This ratio of gains and losses is then deducted from the 100. 

If the answer is less than 30, then we call that the price of the security is in the oversold region. This means that many are selling the security in the market, and as such the security is undervalued.  Moreover, as per the Supply-demand curve theory, the price is supposed to drop when there is an increase in supply. 

If the answer is more than 70 then the security is overbought as many are buying. Since many want to buy the security the demand increases which intuitively increases the prices.

Additionally, the RSI could be used to determine how strong a trend is. For instance, when a cryptocurrency is bullish or reaching higher highs, then the RSI line also should be making higher highs in unison. If not it means that although the cryptocurrency is on a bullish trend it is losing value and hence a trend reversal could be lurking around the corner. And vice versa, if the coin is on a downward trend making lower lows and the RSI makes higher lows, then we could expect the trend to become bullish.  

Although ATOM was consolidating, the RSI was making lower highs, hence, the trend reversed. However, the RSI could also give false alarms for breakouts. Although we may expect, the prices to retrace if it goes to the oversold or overbought region, the prices also can stay in the oversold or overbought region for an extended period. As such, traders should be wary of it and let the market saturate before making vital decisions.

Cosmos (ATOM) Price Analysis – Moving Averages

The Exponential Moving averages are quite similar to the simple moving averages (SMA). However, the SMA smoothens down all values whereas the Exponential Moving Average gives more weightage to the current prices.  As such, the MA equation has a greater reference to the present prices which is required in the volatile industry of crypto.

Whenever the price of cryptocurrency is above the 50-day or 200-day MA, or above both we may say that the coin is bullish (green highlighted section). Contrastingly, if the token is below the 50-day or 200-day, or below both, then we could call it bearish (Green highlighted Triangle).  

When looking at the Red highlighted section in the above chart, we can see that ATOM rebounded on the 50-day MA. Thereafter, it gained momentum to test the 200-day MA. However, it wasn’t able to break the 200-day MA but with the dawn of 2023 ATOM was able to break above both – 200-day MA and 50-day MA. Nonetheless, it could not hold on to its gained position. 

As such ATOM is currently, below both the Moving Averages and is testing the 200-day MA. Moreover, as the 50-day MA is approaching the 200-day from above, there could be a death cross awaiting ATOM.  Hence, traders may consider giving the market some time to saturate, as ATOM may break the 200-day MA or may be rejected. Hence, to take out the factor called uncertainty out of the equation it would be better for traders to take a step back. 

Cosmos (ATOM) Price Prediction 2023

When looking at the chart above we can see that ATOM is fluctuating inside a bullish pennant. It has been making higher lows, but its movements were restricted as it could not make higher highs. Since late May 2022, ATOM has been fluctuating between Support 1 and Resistance 1, 

If ATOM is to break out from the pennant, we could expect it to reach Resistance 3 at $24.802. However, there is a possibility that ATOM could hit Resistance 2 at 20.174 and then rebound from Resistance 1 at $15.506 before reaching Resistance 3.  In the event that ATOM is rejected at Resistance 1, we could expect it to rebound off of Support 1 at $8.889 and consolidate. 

Another possibility is that if Support 1 fails to hold ATOM prices then it could tank to Support 2 at $4.464. However, there also lies a possibility that ATOM could recover in between Support 1 and Support 2.

Cosmos (ATOM) Price Prediction – Resistance and Support Levels

When considering the chart above we could see that ATOM was fluctuating between Support 1 and Resistance 1 since early May 2022. Although Resistance 1 seems to be an unbreakable hurdle, since ATOM was rejected several times,  if the ATOM bulls are triumphant, then it could break the Resistance. Nonetheless, on the bright side of this constricted movement, the range between Support 1 and Resistance 1 offers a price action of almost 196%, hence traders may look to capitalize. 

In the event, ATOM breaks Resistance 1 and 2 and moves onto Resistance 3 as in the past we could see a price action that is close to 196%. Hence, traders should consider making the maximum out of this opportunity. 

Cosmos (ATOM) Price Prediction 2024

Cosmos (ATOM) price could hold the support level around 200-MA, the long-term moving average of 200 days firmly, buyers will then have ample time and stability to forge the next attack mission on the vital level at $25.41, making it not plummet but play consistently. Additionally, this could only be possible if ATOM breaks through past psychological resistance levels.

Cosmos (ATOM) Price Prediction 2025

Cosmos (ATOM) prices might grow past $33.0455 during the next three years. Furthermore, hitting this level might not be so tough for ATOM due to new medium, short-term, and long-term price objectives for purchase or sell orders may be discovered. According to the forecast, ATOM has a strong chance of reaching a new all-time high (ATH) price.

Cosmos (ATOM) Price Prediction 2026

Cosmos (ATOM) prices might grow past $41 during the next four years. Furthermore, hitting this level might not be so tough for ATOM due to new medium, short-term, and long-term price objectives for purchase or sell orders may be discovered. According to the forecast, ATOM has a strong chance of reaching a new all-time high (ATH) price.

Cosmos (ATOM) Price Prediction 2027

Cosmos (ATOM) prices might grow past $48.3 during the next five years. Furthermore, hitting this level might not be so tough for ATOM due to new medium, short-term, and long-term price objectives for purchase or sell orders may be discovered. According to the forecast, ATOM has a strong chance of reaching a new all-time high (ATH) price.

Cosmos (ATOM) Price Prediction 2028

Cosmos (ATOM) prices might grow past $57.5 during the next six years. Furthermore, hitting this level might not be so tough for ATOM due to new medium, short-term, and long-term price objectives for purchase or sell orders may be discovered. According to the forecast, ATOM has a strong chance of reaching a new all-time high (ATH) price.

Cosmos (ATOM) Price Prediction 2029

Cosmos (ATOM) prices might grow past $66.51 during the next seven years. Furthermore, hitting this level might not be so tough for ATOM due to new medium, short-term, and long-term price objectives for purchase or sell orders may be discovered. According to the forecast, ATOM has a strong chance of reaching a new all-time high (ATH) price.

Cosmos (ATOM) Price Prediction 2030

Cosmos (ATOM) prices might grow past $76.51 during the next eight years. Furthermore, hitting this level might not be so tough for ATOM due to new medium, short-term, and long-term price objectives for purchase or sell orders may be discovered. According to the forecast, ATOM has a strong chance of reaching a new all-time high (ATH) price.

Cosmos (ATOM) Price Prediction 2040

According to our long-term ATOM price estimate, ATOM prices could reach a new all-time high this year. If the current growth rate continues, we could anticipate an average price of $155 by 2040. If the market turns bullish, the price of ATOM could go up beyond what we predicted for 2040.

Cosmos (ATOM) Price Prediction 2050

According to our ATOM forecast, the average price of ATOM in 2050 might be above $320. If more investors are drawn to ATOM between these years, the price of ATOM in 2050 could be far higher than our projection.

Conclusion

As said above, Cosmos (ATOM) might reach $25 in 2023 and $76.5 by 2030 if investors have decided that ATOM is a good investment along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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