The
market
for
cryptocurrencies
is
humming
with
hope
because
the
recent
climb
of
Bitcoin
and
the

launch
of
Ethereum
ETFs
today
is
seen
to
create
a
positive
wave.
In
this
bustling
environment,
Cosmos
(ATOM)
is
one
cryptocurrency
that
shows
great
potential
for
a
big
break-through.

Related
Reading

Although
ATOM
has
stayed
somewhat
steady,
with
a
little
rise
of
1.23%
over
the
previous
week
and
a
drop
of
4%
over
the
last
30
days,
experts
feel
it
is
about
ready
for
a
significant
climb.

 

ATOM’s
market
position
is
notable
at
its

current
value
of
$6.23,
with
a
market
value
of
$2.50
billion
and
a
24-hour
trade
volume
of
$235
million.
Despite
a
0.54%
retreat
over
the
last
24
hours,
the
market
seems
to
be
in
a
good
mood
right
now,
making
it
a
good
time
for
ATOM
to
make
money.

Technical
Patterns
Signal
Breakout

Prominent
bitcoin
guru
Jonathan
Carter
has
highlighted
Cosmos’s
intriguing
technological
configuration.
On
its
daily
chart,
he
notes
that
ATOM
is
negotiating
a
declining
wedge
pattern,
sometimes
interpreted
as
positive.

#ATOM

Cosmos
is
trading
inside
a
falling
wedge
pattern
on
daily
chart????‍♂️

Price
currently
near
a
descending
resistance
and
preparing
for
breakout????

Potential
targets
after
breakout
could
be
$7.25,
8.85
and
$12.15????

pic.twitter.com/P3n0O3pXBA

—
Jonathan
Carter
(@JohncyCrypto)

July
21,
2024

This
trend
points
to
ATOM
developing
momentum
and
breaking
out
from
its
declining
resistance
line,
a
crucial
place
where
selling
pressure
has
traditionally
been
strong.

Should
ATOM
be
able
to
overcome
this
barrier,
a
significant
upward
trend
might
be
started.
Carter
has
set
four
important
ATOM
price
targets:
$7.25
as
the
initial
objective,
followed
by
$8.85,
and
maybe
as
high
as
$12.15
should
the
optimistic
trend
hold.
For
those
that
position
themselves
ahead
of
the
breakthrough,
these
goals
reflect
substantial
profits.

 

Forecasts
And
Indicators
Boost
Optimism

Several
technical
indications
point
to
this
positive
view.
A
possible
breakout
is
being
established
by
rising
trade
volumes
and
optimistic
divergent
momentum
indicator
(Relative
Strength
Index)
deviations.
Traders
track
these
indications
attentively
and,
once
the
resistance
level
is
breached,
they
are
prone
to
start
a
buying
frenzy.

Data
from
Coincheckup
shows
that
over
the
next
seven
days,
ATOM
is
predicted
to
show
an
advance,
thereby
implying
good
momentum
in
the
near
future.
ATOM’s
recent
performance
shows
a
minor
undervaluation,
which
suggests
a
possible
buying
opportunity
for
investors
as
it
is
now
trading
around
1.50%
below
its
expected
value
for
the
next
month.

Looking
ahead,
the

six-month
ATOM
growth
estimate
is
a
strong
58%;
the
one-year
prognosis
shows
an
amazing
108%
increase.
This
long-term
projection
emphasizes
faith
in
ATOM’s
stability
in
the
market
and
possibility
for
significant
increases.

Related
Reading

The
Spotlight
On
Cosmos

Cosmos
(ATOM)
is
becoming
a
standout
performance
as
the
bitcoin
community
rides
the
wave
of
strength
and
excitedly
awaits
the
effect
of
Ethereum
ETFs.

 

Cosmos
is
primed
to
gain
attention
in
the
altcoin
market
as
it
has
the
ability
to
transcend
its
present
pricing
levels
and
generate
notable
increases.

ATOM
is
one
to
keep
special
attention
to
as
traders
and
investors
search
the
market
for
interesting
prospects.
For
Cosmos,
the
next
several
weeks
might
be
crucial
as
they
will
allow
for
a
breakout
that
drives
it
to
unprecedented
heights.

Featured
image
from
Pexels,
chart
from
TradingView

Go to Source
Author: Christian Encila

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