Cosmos was founded back in 2014 by Jay Kwon, Zarko Milosevic, and Ethan Buchman. Though the leading person is still considered to be as Jae kwon. In 2016 its whitepaper was released while in 2017 the ICO (Initial Coin Offering) of this token was published that raised over $17 million that year.
The project goal is solve the problems of block chain by offering a way to sort out slow expensive and environmental harmful protocols. Overall it aims to ease the complexity of block chain technology. Cosmos is described as block chain 3.0 as it aims to be used as simple as possible. The transactions per second are far better than old block chains i.e Bitcoin and Ethereum.
ATOM is the native token of the Cosmos ecosystem. This coin can be currently traded on some of the leading exchanges such as Binance, coin base, OKEx, etc
Atom is being traded at the rate of $25.60 at the moment with a rise of 29.25% in the last 24 hours. The total volume has reached an amount of $1,691,703,381 with a rise of 235.59% in the last 24 hours. The coin is listed as #28 among the top coins according to coinmarketcap.
ATOM – Technical Analysis
The coin hasn’t been much bearish as compared to the other coins. after making its all time high, the coin did some correction of that impulsive move being under influence by BTC, but now the bearish trend seems to be at an end. From 20 May 2021 to 17 august 2021, the coin was in consolidation, and accumulating orders, packing up to rally upside, which it started on 19 August. the coin broke the consolidation and retested it soon on 26 August. As soon as it retested the consolidation zone, the coin pumped up.
How will it React now?
Talking about how will perform now, is that coin has gained momentum and is within an impulsive move, which may continue all the way up to its all time high.
Now $25.87 may react as resistance for the price and possible the price might reject it, but with this momentum, it is very unlikely.
The price moreover didn’t even reacted to the supply zone, giving a hint of buyers to be in control, from $30.00 or $28.79 if price reacts, a correction can be expected, but it all depends on how the price delivers in these levels.
