Can the ATOM Coin Hit Falling Wedge Pattern’s Highs In the Future?

• The ATOM coin is trading with a long/short ratio of 0.9298.
• Cosmos price is trading 720% above its all-time low price.

Cosmos is a blockchain ecosystem that allows different blockchains to interoperate. It is powered by ATOM, a cryptocurrency that is generally used for fees, staking, and governance. Cosmos was created by the Interchain Foundation, a non-profit organization that aims to enable an open and interoperable blockchain ecosystem.

The USDT covers the highest trading volume of the currency pair of ATOM crypto. It hit an all-time high price of $44.45 over two years ago.

Cosmos has a volume/market cap ratio of 0.0981. It follows up a market cap rank of #29 as per Coingecko. The current market cap of crypto is $3.619 Billion, leading to an advance of 0.8% in the last 24 hours. That results in a market cap dominance of 0.174%.

The derivative data of the ATOM crypto is flat indicating uncertainty. The derivative volume has advanced by 25.18%, resulting in $350.14 Million. This crypto’s long/short ratio is 0.9298. It indicates the lack of interest of traders in the community.

TVL vs Volume

Following the most recent scenario, the volume and the TVL of the crypto has witnessed huge advance over time. This shows that the traders are showing interest in the crypto and the community of the crypto is significantly growing.

ATOM Crypto Technical Analysis

The ATOM crypto has been consistently facing resistance at higger levels and has declined to crucial lows resulting in a strong downtrend. This decline was also followed by the falling wedge pattern and the crypto has broken above the same.

ATOM/USD Chart by TradingView.com

The 20-day EMA has broken above the 200-day while the 50-day EMA is approaching the 200-day EMA level. These advancing EMAs represent that the price is following a strong uptrend.

The RSI is also trading in a bullish trajectory and is currently sustaining above the 50-zone. It is also trading above the 14-day SMA line. 

Conclusion

ATOM crypto, with a current market cap of $3.619 billion and a 0.174% dominance, has seen a recent 0.8% surge. Technical analysis reveals a bullish trend, supported by rising EMAs and a positive RSI, indicating growing trader interest and community expansion.

Technical Levels 

• Support levels: $3.800 and $5.500
• Resistance levels: $12.90 and $15.150

Disclaimer

The views and opinions stated by the author or any other person named in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.