- When writing, the ATOM crypto price was up 340% from its all-time low of $1.13.
- The top 10 holders of the Cosmos token held 27.39% of the circulating supply.
The Cosmos token was the 39th largest cryptocurrency in the global crypto market at press time. It showed a strong market presence and a market cap dominance of 0.09%.
The sentiment of Cosmos crypto was bearish, as per CoinCodex, while the fear and greed index was at 40. That showed fear among investors.
Despite the strong market presence of Cosmos, a decline in the trading volume was recorded over the last 24 hours. It resulted in a 28% decline in the spot trading volume, followed by a 29% drop in the derivatives trading volume.
The Cosmos token price witnessed higher long liquidation against the short liquidation in derivatives, showing buyers’ dominance. Its market cap declined 0.24% in the last 24 hours to $1.987B.
The token price was highly volatile, resulting in a volatility of 9.77%, and the total value locked for the Cosmos was $741K.
Social Activity Overview of the Cosmos Token
The social presence of Cosmos has shown significant strength, evidenced by a consistent increase in its Twitter following over time.
The official Cosmos Twitter account boasted 558.25K followers at press time. It reflected growing interest and engagement within the community.
In addition to the rising Twitter followers, the Cosmos platform has also experienced a notable surge in Reddit subscribers over the past few months. This trend highlighted the expanding reach and influence of Cosmos across various social media platforms, further solidifying its presence in the cryptocurrency space.
ATOM Token Technical Analysis
The ATOM token price has consistently declined over time due to a falling wedge pattern on the daily chart.
A swing high of $14.5 was formed in March 2024, and the token price since then witnessed a consistent decline.
That decline in the token price was followed by the formation of lower lows on the daily chart. Additionally, the token’s behavior led to the formation of a falling wedge. The price traded inside the same for the last three months.
Suppose the ATOM token price breaks above the falling wedge pattern with strong momentum and sustains above the same, we might change the price trend.
Cosmos Price Technical Indicator Analysis
The 50-day and the 200-day EMAs on the daily chart consistently traded in a death cross for more than three months. The ATOM token price also traded below the EMAs, exhibiting strong seller dominance.
ATOM/USD Chart by TradingView.com
The Supertrend on the daily chart also gave a strong sell signal as the token price traded below the average true range (ATR) level.
MACD further gave a strong sell signal as the MACD and the signal line traded in death crossover and sustained a negative trajectory.
The RSI also declined to the oversold zone and overlapped the 14-day SMA. That showed bearishness in the token price.
Additionally, the support levels for the token were $4.0 and $4.50, followed by the resistance levels of $8.70 and $11.30.
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.
