If that happens, the ATOM/USD pair could again retest the critical support of $6.77. If the price turns down from this level, it will suggest that the bears are attempting to flip the $10 level into resistance. That has started a recovery, which could face strong selling at the breakdown level of $10. This fall had pushed the relative strength index ( RSI) near the oversold territory, indicating that the selling may have been overdone in the short term. It declined almost vertically from $32 to $6.77. Cosmos price technical analysis: Weekly chart Cosmos weekly chart – Credit: ĪTOM’s price has been in a strong downtrend. CoinDesk sources said that more than half of Ignite’s employees left the company along with Zhong.Ĭould the departure of key executives pull the price down or will the fundamental factors provide support? Will Cosmos go up? Read our ATOM price analysis to find out. It is speculated that Zhong departed following the return of Ignite’s former CEO, Jae Kwon. Peng Zhong, the CEO of Ignite, the company behind the founding of blockchain ecosystem Cosmos, announced on 1 July that he was leaving the firm. The exchange tweeted on 22 June that the “dYdX V4 will be developed as a standalone Cosmos-based blockchain”. The support for Cosmos was added on 5 July and ATOM investors can now swap the coins with the other supported ecosystems without any wrapping or bridging.Īnother positive is that dYdX crypto exchange announced that it will be abandoning the Ethereum ecosystem in favour of the Cosmos ecosystem. This enables swaps between major ecosystems without the use of bridges or wrapped assets. THORChain (RUNE) announced the integration of several networks, including ATOM, into its ecosystem on 23 June. As of 6 July 2022, the buyers are attempting to propel ATOM toward the psychological level of $10. That has benefitted Cosmos (ATOM), which is attempting to form a bottom. The selling pressure in the crypto sector seems to be reducing. Cosmos price technical analysis: Daily chart. Cosmos price technical analysis: Weekly chart.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |