Cosmos Price Prediction: Is Cosmos Heading For Stars?

Cosmos was currently at $14.92 with a decrease of 0.83% during the intraday trading session.
The pair of ATOM/BTC was around 0.0006358 BTC with a decrease of 0.93%.
The current price of Cosmos is above 20, 50, 100, and 200-days EMA.

In a nutshell, Cosmos bills itself as a project that solves some of the “hardest problems” facing the blockchain industry. By providing an ecosystem of interconnected blockchains, it seeks to provide an alternative to “slow, expensive, unscalable, and ecologically destructive” proof-of-work methods, such as those employed by Bitcoin. The start of Cosmos may be traced to the establishment of Tendermint in 2014, a key contributor to the network. A white paper for Cosmos was published in 2016, and a token sale took place in 2017. Earned using a hybrid proof-of-stake method, ATOM coins contribute to the security of the Cosmos Hub, the project’s main blockchain. This cryptocurrency also has a role in the network’s governance.

The current price of Cosmos was around $14.92 with a decrease of 0.83% during the intraday trading session. The 24-hour low of ETC was $14.73 and the 24-hour high of ETC was $15.36.

As we saw with the other cryptocurrencies it is also the case with Cosmos as it is also constantly rising since the start of 2023 and it also has broken its major resistance of $14.98. We can also see that 20 EMA has shown positive crossover with the 50, 100, and 200-days EMA which indicates that the ATOM will continue to rise in the coming trading sessions. If Buyers push themselves then we can see Cosmos may go over its supply zone and reach its previous glory which it has before its decline in April 2022. This will make investors excited for the upcoming intraday trading sessions.

The volume of the coin has decreased by 24.29% in the last 24 hours. The decreasing volume indicates that the sellers have increased which may bring obstacles to ATOM in surpassing its supply zone. The coin’s price is heading above the 20, 50,100, and 200-Daily Moving averages.

The technical analysis of Cosmos:

The technical indicators show that the RSI of the ATOM is showing a positive crossover in the overbought zone and it may enter into an extremely overbought zone which indicates that buyers are coming in the majority and trying to acquire the market. The current RSI is around 65.41 which is above the average RSI of 64.15.

The MACD and MACD signal are intersecting but not giving a definitive crossover. But the probability is that the crossover will be positive. Investors are eagerly waiting for any movement over the daily price chart.

Conclusion

In a nutshell, Cosmos bills itself as a project that solves some of the “hardest problems” facing the blockchain industry. By providing an ecosystem of interconnected blockchains, The start of Cosmos may be traced to the establishment of Tendermint in 2014, a key contributor to the network. This cryptocurrency also has a role in the network’s governance. The price of ATOM went down 0.83% during the intraday trading session or about $14.92 at the moment. The coin may surpass its supply zone if the buyers push themselves. In the past 24 hours, the coin’s volume has declined by 24.29%. The ATOM’s RSI is exhibiting symptoms of positive crossover in the overbought zone and MACD has not given a definitive crossover, according to technical indicators.