Cosmos Hub Price Prediction as ATOM Stays Green Despite Market Crash –

Simon Chandler

Last updated:

May 1, 2024 at 12:53 GMT+3

| 3 min read

The Cosmos Hub price has risen by 4% today, moving ATOM to $8.30 as the cryptocurrency market loses a big 9% in 24 hours.

Despite this lift, ATOM remains down by 5% in a week and by 30% in the last 30 days, with the altcoin also sitting on a 26% decline in the past year.

While its performance has disappointed in recent months, it almost seems that traders have turned to its already-discounted price today at a time of market-wide stress.

It could therefore be on the cusp of a big rally, particular as the market as a whole begins to recover.

Cosmos Hub Price Prediction as ATOM Stays Green Despite Market Crash – Should You Invest Today?.

The most noticeable feature of ATOM’s chart is that, after having risen overall in the past day, the coin has actually fallen steeply in the past hour or so, as holders react to the market-wide crash.

Accordingly, its relative strength index (purple) has dropped from 70 earlier this morning to just under 50 now, signalling a big loss of momentum.

It’s possible that the RSI will fall towards and below 30 before we see a turnaround, with ATOM’s 30-day average (orange) also flattening out in the past hour after rising strongly in the morning.

One of the more bearish signals in ATOM’s chart comes from the coin’s resistance (red) and support (green) levels, which are both sliding down.

This suggests that the coin will sink to a new medium-term level before right itself, with its spike in volume signalling an increasing desire to sell out of the token.

Some analysts predicted ATOM’s bounce this morning, although it’s worth considering that, within the context of the cryptocurrency market, predictions by prominent analysts sometimes become self-fulfilling prophecies.

Still, the market has oversold ATOM for so long that the coin is more than deserving of a sustained comeback.

This is particularly the case when looking at the coin’s fundamentals, with Cosmos regularly growing as an interchain for crypto’s various platforms and networks.

And as the wider ecosystem continues to expand in the coming months and years, Cosmos is only likely to attract more use.

This points to a rising Cosmos Hub price over time, with ATOM likely to reach $10 in the next few weeks, before touching $15 by the final months of the...

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