- The price of the ATOM crypto is 69% down from its all-time high price.
- Based on its market cap, Cosmos has high liquidity.
ATOM is the native cryptocurrency of the Cosmos Network, facilitating transaction and network fees, staking for network security, and earning rewards. Created by the Interchain Foundation, including Jae Kwon, Ethan Buchman, and Zaki Manian.
Cosmos aims to establish an interoperable blockchain ecosystem, fostering open, permissionless communication among diverse blockchains.
The trading volume for the Cosmos crypto has advanced by 17.95% in the last 24 hours, and its traded volume is $322.588M. The crypto’s market cap has advanced by 2.8% in the previous 24 hours.
The current market cap of the token is $5.358B, and Cosmos is the 25th largest cryptocurrency in the global cryptocurrency market. Further, the crypto’s volume/market cap ratio is 6.06%.
The Total Value Locked for the crypto is $2.31M, and its market cap dominance is 0.20%. The token’s volatility is very high, and its sentiment is bullish.
Also, the fear and greed index indicates greed, while the circulating supply of the crypto is 389.806M ATOM. The total supply of the crypto is also the same, and the maximum supply of the token is infinite. Its fully diluted market cap is $5.362B.
Cosmos Token Derivatives Analysis
The derivatives trading volume of the token has advanced by 26.7% in the last 24 hours, resulting in $389.93M. Following this, the open interest of the token has also advanced by 1.03%.
It resulted in a long/short ratio of 0.9113 and witnessed a long liquidation of $773.73K against the short liquidation of $119.29K. The following data represents the sellers’ dominance over the past 24 hours.
Total Open Interest Vs Development Activity
Following the advance in the trading price, the Total open interest for the token in USD is advancing. The development activity of the crypto is also on the rise, indicating activeness in the token’s community.
ATOM Crypto Technical Analysis
The trading price of the ATOM crypto has broken above a crucial resistance and falling wedge pattern together. The following behavior of the crypto price indicates strength in the trading price of the token.
The advance in the trading price of the token is followed by the formation of bullish candlesticks on the chart.
ATOM/USD Chart by TradingView
The ATOM crypto trading price has broken out above the crucial trading EMAs on the chart, and the price is consistently moving towards a higher level by taking support at the 20-day and 50-day EMAs. Furthermore, the 50-day and the 200-day EMAs are trading in a golden cross.
The ADX indicator is trading at a level of 24.8, representing the strength of the existing crypto trend. Despite this, if the ADX value slides below the 20 level, volatility in the market trend might be witnessed.
The Stochastic RSI is declining from the overbought zone, indicating the possibility of retracement in the trading price of the crypto.
Summary
Cosmos (ATOM) exhibits bullish signs despite a 69% drop from its all-time high. With high liquidity and a bullish sentiment, ATOM’s trading volume and market cap are on the rise.
The token’s technical analysis suggests strength in its trading price, supported by increasing development activity and total open interest.
Technical Levels:
- Support levels: $1.420 and $6.00
- Resistance levels: $17.10 and $32.40
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.