{"id":175606,"date":"2023-05-17T15:32:41","date_gmt":"2023-05-17T15:32:41","guid":{"rendered":"https:\/\/precoinnews.com\/?p=175606"},"modified":"2023-05-17T15:32:41","modified_gmt":"2023-05-17T15:32:41","slug":"cosmos-atom-price-trends-upwards-a-potential-breakout-or-impending-correction","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/cosmos-atom-price-trends-upwards-a-potential-breakout-or-impending-correction\/","title":{"rendered":"Cosmos (ATOM) Price Trends Upwards: A Potential Breakout Or Impending Correction?"},"content":{"rendered":"

After experiencing a bearish trend on April 17, 2023, that dropped the asset to a low <\/span>of $10.12 from $12.88<\/span>, Cosmos (ATOM) has managed to recover slightly.<\/span><\/p>\n

Between February 8 and May 17, ATOM witnessed a significant decline of 32.89%, reaching a low point of $10.175 on May 9. <\/span>The current month has, however, brought a surge in demand for Cosmos (ATOM), leading to a remarkable price performance.\u00a0<\/span><\/p>\n

What’s Ahead For Cosmos (ATOM)?<\/h2>\n

According to data, ATOM experienced a substantial price decline, reaching $10.73, a <\/span>0.95% decrease<\/span> within the last 24-hour trading period.<\/span><\/p>\n

Related Reading: Will Dogecoin (DOGE) Break Free From Limbo? Market Awaits Bullish Catalyst<\/p>\n

Notably, the 24-hour trading volume is up by 9.04%, rising to $85 million, indicating that the market activities around ATOM are increasing. More buyers and sellers are actively participating in trading ATOM.\u00a0<\/span><\/p>\n

Also, an increase of more than 9% signifies potential price volatility, which might influence the price of ATOM.\u00a0<\/span>But the current market sentiment of ATOM is bearish as its <\/span>Fear and Greed Index<\/span> shows 28, fear.\u00a0<\/span><\/p>\n

This indicates a potential downtrend as investors and traders fear entering the market. This may also lead to high sell pressure from the investors. <\/span>Based on the Fear & Greed Index reading, the market may likely experience some price correction if the bears maintain this momentum in the coming days.<\/span><\/p>\n

Cosmos (ATOM) Technical Analysis<\/h2>\n

The 200-day and 50-day <\/span>Simple Moving Averages<\/span> (SMAs) currently exceed the ATOM\/USDT trading pair price. <\/span>This indicates that the market is on a bearish trend in longer and shorter timeframes. <\/span><\/p>\n

Also, this means that the selling momentum is stronger than the buying. <\/span>However, if the bulls increase the buying pressure, some price changes might occur in a few days.<\/span><\/p>\n

The <\/span>Relative Strength Index<\/span> shows 44.91, meaning there’s market indecision between buyers and sellers. The market in a neutral zone indicates low pressure from buyers and sellers.<\/span><\/p>\n

<\/p>\n

However, the <\/span>MACD<\/span> is above the signal line depicting a potential bullish momentum for ATOM. Also, the histogram is currently above the zero level, validating the bullish sentiment.\u00a0<\/span><\/p>\n

Latest Development To Spike Network Utility<\/h3>\n

The ecosystem recently<\/span> announced<\/span>\u00a0the adoption of its first Cosmos native shared security model by a widely known Permissionless CosmWasm platform called <\/span>Neutron<\/span>.\u00a0<\/span><\/p>\n

The Replicated Security brings a new era of utility to the network. It will also help Cosmos Hub to offer security to new projects launching as Hub-secured consumer chains.<\/span><\/p>\n

The consumer chain will share its revenue with the Hub in exchange, and will also be shared with ATOM validators.<\/span><\/p>\n

Neutron being the first platform to pioneer Cosmos Hub Replicated security, will enjoy instant access to the multi-billion dollar economic security of the Hub. <\/span><\/p>\n

This recent development could attract more investors, traders, and institutions into the network, driving the demand for ATOM significantly over time.<\/span><\/p>\n

featured image from Pixabay and chart from Tradingview<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

After experiencing a bearish trend on April<\/p>\n","protected":false},"author":3,"featured_media":175605,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nCosmos (ATOM) Price Trends Upwards: A Potential Breakout Or Impending Correction? - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/cosmos-atom-price-trends-upwards-a-potential-breakout-or-impending-correction\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cosmos (ATOM) Price Trends Upwards: A Potential Breakout Or Impending Correction? - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"After experiencing a bearish trend on April\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/cosmos-atom-price-trends-upwards-a-potential-breakout-or-impending-correction\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-17T15:32:41+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2023\/05\/Cosmos-ATOM-Price-Trends-Upwards-A-Potential-Breakout-Or-Impending-Correction.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/cosmos-atom-price-trends-upwards-a-potential-breakout-or-impending-correction\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/cosmos-atom-price-trends-upwards-a-potential-breakout-or-impending-correction\/\",\"name\":\"Cosmos (ATOM) Price Trends Upwards: A Potential Breakout Or Impending Correction? 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