- Ranked as the third most active protocol.
- Held a Twitter community call on NFT games.
- Price rise predicted by a famous analyst.
According to a report by Santiment, Cosmos (ATOM) was ranked as the third most active protocol. Its activity was also appreciated by a popular crypto analyst Michaël van de Poppe, who predicted ATOM to rally in the coming term. Van de Poppe says Cosmos is already rallying and is likely to continue to surge. He mentions the high run and the current consolidation. According to his analysis, if prices crack the high again at $25.97, holders can have some run-up taking place towards $35.00 as a relief rally. He points out a similar movement was observed in 2019 and 2020.
The Cosmo community held a call in its Twitter space discussing the Games of NFTs. Many fans attended the call and discussed the developments of interchains NFTs tech, and other topics on similar lines.
– The development of Interchain NFTs technology
– The need for Interchain NFTs
– How the Game of NFTs work and much more
Set a reminder— Cosmos Hub
Monoscopic view
The prices form a falling parallel channel and mark consistent lower peaks. Current action takes place below the EMA. 100-EMA crosses 200-EMA, which is a bearish signal. This is often seen when prices change the course of movement from down to up. Here this bearish signal fails.
The OBV is rising, and the recent volume records a bulk buying of the token. A strong bull run can be established if the prices crack the $10.64 level, aiming to reach up to $13.92. And if the push is strong enough, the rally can go up to $35.00 after crossing the $25.97 level.
The rising CMF in the positive region reflects the uptrend starting and may continue to form a bull market. The MACD records ascending buyer histograms as gradually market recovers. The RSI shows buyers entering and staying long enough to mark influence.
Microscopic view
The closer time frame suggests prices moving up steadily. The CMF reaches for the baseline and shows a slow-paced rise in prices. The MACD records a few sellers being more active than the current buyers. The RSI retraces from the overbought zone to reach the 50-mark average. The study indicates a slight dip before the predicted rise.
Conclusion
The market is recovering gradually and making progress with time. Users are showing interest in the token under external influences, which seems to work well for ATOM. The breakout level of $10.64 can be watched for a price rise.
Technical levels
Support levels: $8.45 and $6.77
Resistance levels: $13.23 and $14.78
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/01/05/cosmonauts-are-involving-in-atomic-reactions-new-proposals-are-made/