Cosmos (ATOM) Rally Encounters One Critical Obstacle – Price Analysis

  • Cosmos price has seen massive bullishness lately.
  • The alt has gained more than 100% from December’s lowest level.
  • Let us check what the alt necessitates to sustain a bullish comeback.

Cosmos (ATOM) has its price fluctuating around its ATHs as market players celebrate the ongoing ecosystem growth. For now, ATOM trades at $41.45, some point under its ATH of $44. The altcoin’s total market cap wavers near $12.39 billion, ranking 16 in the crypto-list by value.

ATOM Surges Higher

Cosmos is a top blockchain that aids in solving a vital challenge within the crypto marketplace. The projects help solve the interoperability challenges of blockchains. Blockchain networks run independently. For instance, ETH-based projects interact with other ETH projects. Therefore, the growing industry demands many blockchains working with each other.

Cosmos utilized Tendermint BFT blockchain architecture. It boasts multiple independent blockchains called zones that ensure consistent ecosystem and top-notch performance. Cosmos Hub is the initial zone.

Cosmos Hub is a PoS with straightforward governance that authorizes the platform to upgrade and adapt. The Cosmos Hub allows apps to communicate via Interblockchain Communication protocol.

Today, more than 250 application uses the network. Some of the top apps include Binance Coin, KuCoin Token, Coin, TerraUSD, and Terra.

Cosmos price has seen remarkable performance recently. That came as market players remained bullish about the project. Also, the token’s value rose due to the awaited upgrade to ensure increased user-friendliness. Some of the anticipated events in the platform this year are DeFi ecosystem growth and Liquid Staking.

ATOM Price Forecast

The daily price chart indicates ATOM has seen massive bullishness lately. The altcoin secured a resistance of around $44.5. For now, the crypto hovers beneath this hurdle. Moreover, the coin moved briefly beyond the 25- and 50-day EMA as oscillators maintained a bullish bias.

With that, ATOM’s road without many obstacles remains the upside, with the following vital resistance at $50. However, bulls should push the alt beyond the resistance market at $44 to attain such a move. Any move beneath $40 will ruin Cosmos’ bullish outlook.

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