Cosmos is among the leading gainers in the crypto charts despite major cryptocurrencies such as bitcoin and ethereum failing to register any notable gains. The broader crypto market is showing bearish signals, but Cosmos has not responded to this trend, and it has picked a reverse trend with double-digit gains.
Cosmos is trading at $25.06 at the time of writing after a 25.1% gain in 24 hours.
Cosmos (ATOM) Price Analysis
Cosmos has been on a major upswing in the past 24 hours. The coin has managed to clinch new monthly highs that are propelling the altcoin towards making new monthly highs. There is an increased chance that ATOM’s price action will continue because buying pressure is currently strong.
If the bulls continue, we will see ATOM regain higher levels of above $28. This will be a major gain for the coin because it will trigger the rally towards breaking past the all-time high of $31. This high will be created if buyers continue building up pressure for the coin.
On the other hand, market support is lacking, so ATOM could be headed to a bearish zone if buyers fail to keep up with the pressure. A dip could also be triggered by investors who want to sell to reap big after the recent gains. The lower support that ATOM will test in case of a dip lies at $22. Going below could increase the selling pressure.
Cosmos has been a major player in the DeFi sector, enabling the coin to accomplish the recent bullish rally. ATOM recently launched a cross-chain feature to allow any blockchain that is compatible with inter BTC to access Trustless Bitcoin. This step was aimed at improving the network’s DeFi capability.
Where to Buy Cosmos (ATOM)
If you want to buy cosmos, you can create an account on the following exchanges:
eToro is a popular social copy trading platform. It supports a wide range of cryptocurrencies and trading pairs. eToro also allows new traders to learn from market experts, which increases the profitability chances for new traders.
You can also buy ATOM from Kraken. Kraken is one of the leading exchange platforms. It offers a wide range of cryptocurrencies and trading pairs, making it ideal for those traders who want to diversify their portfolios. Kraken’s trading fees are also friendly.
Looking to buy or trade Crypto now? Invest at eToro!
75% of retail investor accounts lose money when trading CFDs with this provider