ATOM Expands Over 25% In Last Week, Keeps Bullish Run Since Mid-June

Christian Encila

2 years ago

2 mins read

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Cosmos (ATOM) has been a top-performer and exhibited a bullish fervor for the past couple of months, or since June.

ATOM up by 25% in the past seven days
Cosmos network collaborations such as with Polkadot is likely to increase demand
ATOM price up by .04% as of press time

ATOM’s bullish streak has lingered on for the past week, showing a price pump of over 25%.

The crypto rallying for the past week happened after its successful rebound from the ascending support line. Despite the bullish momentum, ATOM could potentially go through a slippery slope.

This may happen due to the fact that the coin is currently trading around its key resistance level.

The crypto was able to test its key resistance level in May following an eclipse or crash. Cosmos failed to move past the key resistance zone present on August 24 and 25; respectively.

More so, ATOM has also experienced some hurdles present at that price level as seen in the past four days.

ATOM May Swerve Towards Bearish Detour

According to CoinMarketCap, ATOM price is up by 0.04% or trading at $12.83 as of this writing. ATOM seems to be swerving up and down validating a bearish detour.

As of press time, ATOM is looking like it’s heading towards a bearish retracement. Further, the altcoin’s selling pressure is considerably low which could be due to Cosmos’ overhaul of its delegation strategy.

The low selling pressure can also impact demand, especially with a spike in the number of validators.

On the brighter side, the ongoing development of Cosmos doesn’t seem to stain or dissuade ATOM’s optimistic outlook. Interestingly enough, the Cosmos network was able to maintain a positive development activity in the past month.

Cosmos Network Integrations To Boost Demand

There are exciting developments underway such as the upcoming integration of Cosmos and Ethereum Beacon chain and the fusion of Polkadot and Cosmos’ IBC.

These partnerships or collaborations are bound to ramp up the demand for DOT. Further, the Cosmos network will be integrating with a number of blockchain networks which can predictably increase the demand for ATOM plus optimize its price action.

Additionally, investors ought to take advantage of the fact that despite its ongoing rally, the altcoin is still low-priced. Investors should also note that the cryptocurrency is still heavily discounted, despite its recent upside.

However, a retracement is possible despite its upswing mainly due to increased selling activity.

Crypto total market cap at $954 billion on the daily chart | Source: TradingView.com
Featured image from UseTheBitcoin, chart from TradingView.com

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.