ATOM Price Analysis October 2022
ATOM is a token of the platform Cosmos. Its current price is around $13.69 at the time of writing, with a low of $5.59 and a market cap of 3.9 billion dollars.
ATOM Coin Market Analysis
ATOM has a total supply of 286,370,297 coins worth around $13.69 with a market volume of 665 million dollars, whereas the market capitalization is 3.9 billion dollars at writing. A 90% price gain and an overnight trading volume have led some to believe that ATOM’s bear run has ended.
Crypto markets have experienced massive swings this year, especially in the last couple of months. From mid to late June through August, the price of Cosmos jumped from $4 to over $17 in a short period. From June to September, there was a rally into the key resistance area at $17, where traders and investors made 200% profits.
Cosmos’ price turned bearish in early October as price action couldn’t stay above the trendline. But after that, it was an up-and-down ride until now. You’ll see this reflected in the lower time frame price action letter, which follows a classic shape of a U-recovery. It seems ATOM is recovering. The price is higher than the previous swing high.
What is Cosmos (ATOM)?
ATOM is the coin of the Cosmos platform, which is around $13.69 at the time of writing, with a low of $5.59. It reached a high of $44.52, and its current ranking is #21, according to CoinMarketCap, with a market cap of 3.9 billion dollars. The Cosmos blockchain allows projects to be scalable and communicate with one another. At its core, the project seeks to create a network of blockchains called the Internet of Blockchains that would allow various web3 platforms to communicate.
ATOM Price Prediction
In the 4H timeframe, the price action of $ATOM/USDT is moving inside the resistance zone. Therefore, we have to wait for the candle to close above the resistance zone, and after a retest, we can enter it.
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Discipline and Patience are the most critical components of a successful trade. According to the above analysis, the coins we discussed might make you decent gains if other market conditions prevail favorably. Again, it’s your hard-earned money that you’ll be using. Do Your Own Research before investing.